Insider Buying: BRC (NYSE:BRCC) Director Buys 50,000 Shares

Key Points

• Director Kathryn Dickson bought 50,000 BRC shares at an average price of $0.85, investing $42,500 and increasing her direct holdings by 10.58% to 522,690 shares.
• BRC shares traded near $0.81, well below their 52-week high of $1.85, and are scheduled for a 1-for-10 reverse stock split on August 24.
• Analyst sentiment is mixed but leans positive, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $2.25 average price target.

BRC Inc. (NYSE:BRCC - Get Free Report) Director Kathryn Dickson bought 50,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $0.85 per share, for a total transaction of $42,500.00. Following the purchase, the director directly owned 522,690 shares in the company, valued at approximately $444,286.50. This trade represents a 10.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

BRC Stock Performance

NYSE:BRCC traded down $0.01 during mid-day trading on Wednesday, hitting $0.81. 1,129,151 shares of the company traded hands, compared to its average volume of 1,080,217. The firm has a market cap of $203.49 million, a price-to-earnings ratio of -27.10 and a beta of 1.25. BRC Inc. has a one year low of $0.60 and a one year high of $1.85. The stock's fifty day moving average price is $1.13 and its 200-day moving average price is $1.06. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

BRC shares are set to reverse split on the morning of Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 21st.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings lowered shares of BRC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 4th. Craig Hallum assumed coverage on BRC in a report on Monday, August 3rd. They set a "buy" rating and a $1.75 price objective for the company. Wall Street Zen raised BRC from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, DA Davidson reiterated a "buy" rating and issued a $2.50 price target on shares of BRC in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BRC currently has an average rating of "Moderate Buy" and a consensus price target of $2.25.

Institutional Trading of BRC

Several large investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new stake in BRC in the 3rd quarter valued at about $16,206,000. Nantahala Capital Management LLC acquired a new position in BRC during the third quarter worth approximately $4,104,000. Zazove Associates LLC raised its position in BRC by 270.7% in the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock valued at $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Vanguard Group Inc. raised its stake in BRC by 50.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company's stock valued at $6,478,000 after acquiring an additional 1,399,833 shares during the last quarter. Finally, Millennium Management LLC grew its position in BRC by 71.5% in the 3rd quarter. Millennium Management LLC now owns 1,900,439 shares of the company's stock valued at $2,965,000 after buying an additional 792,458 shares during the last quarter. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source