BRC Inc. (NYSE:BRCC) Director Buys $500,000.00 in Stock

BRC Inc. (NYSE:BRCC - Get Free Report) Director Glenn W. Welling bought 400,000 shares of BRC stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $500,000.00. Following the acquisition, the director owned 13,935,560 shares in the company, valued at approximately $17,419,450. This represents a 2.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BRC Price Performance

Shares of NYSE BRCC traded up $0.14 during mid-day trading on Friday, hitting $2.04. 1,008,748 shares of the stock traded hands, compared to its average volume of 1,157,043. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 0.61. BRC Inc. has a twelve month low of $1.19 and a twelve month high of $5.81. The company has a market cap of $433.90 million, a PE ratio of -22.61 and a beta of 0.90. The firm has a 50 day simple moving average of $1.64 and a two-hundred day simple moving average of $2.10.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $89.97 million for the quarter, compared to analyst estimates of $88.08 million. BRC had a negative net margin of 1.67% and a negative return on equity of 2.09%. As a group, equities research analysts forecast that BRC Inc. will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of BRC by 1,018.3% in the 4th quarter. Millennium Management LLC now owns 1,798,148 shares of the company's stock worth $5,700,000 after acquiring an additional 1,637,357 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of BRC by 204.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company's stock worth $1,361,000 after acquiring an additional 437,359 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of BRC by 697.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company's stock worth $1,413,000 after acquiring an additional 389,833 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of BRC in the 4th quarter worth about $872,000. Finally, Cerity Partners LLC bought a new position in shares of BRC in the 1st quarter worth about $518,000. 16.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BRCC has been the topic of a number of research analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $4.00 target price on shares of BRC in a report on Thursday, July 17th. Roth Capital set a $2.00 price objective on BRC and gave the company a "neutral" rating in a report on Wednesday, May 7th.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.