Insider Selling: BRC (NYSE:BRCC) Insider Sells 12,000 Shares of Stock

Key Points

• BRC insider Evan Hafer sold 12,000 shares at an average price of $11.37, generating proceeds of $136,440 under a pre-arranged Rule 10b5-1 trading plan. He has made several additional sales this month.
• BRC shares recently traded at $12.93, with a market capitalization of approximately $323.7 million and a 52-week range of $6.00 to $18.55.
• Analysts maintain a consensus “Moderate Buy” rating with a $22.50 price target, while institutional investors own 16.29% of the company.

BRC Inc. (NYSE:BRCC - Get Free Report) insider Evan Hafer sold 12,000 shares of the company's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $11.37, for a total value of $136,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Tuesday, October 20th, Evan Hafer sold 5,572 shares of BRC stock. The stock was sold at an average price of $10.59, for a total transaction of $59,007.48.
• On Friday, October 16th, Evan Hafer sold 2,724 shares of BRC stock. The shares were sold at an average price of $10.56, for a total transaction of $28,765.44.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The shares were sold at an average price of $10.62, for a total transaction of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The stock was sold at an average price of $10.51, for a total value of $2,102.00.

BRC Price Performance

Shares of BRC stock traded up $0.78 during trading hours on Thursday, reaching $12.93. 189,067 shares of the company's stock were exchanged, compared to its average volume of 112,736. The business has a fifty day moving average of $9.41 and a two-hundred day moving average of $10.19. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $323.66 million, a P/E ratio of -43.10 and a beta of 1.25. BRC Inc. has a 1 year low of $6.00 and a 1 year high of $18.55.

Wall Street Analyst Weigh In

BRCC has been the topic of several recent research reports. Weiss Ratings cut shares of BRC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 4th. DA Davidson raised their price objective on BRC from $2.50 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Finally, Craig Hallum started coverage on shares of BRC in a research report on Monday, August 3rd. They issued a "buy" rating and a $17.50 target price on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BRC presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Institutional Trading of BRC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zazove Associates LLC increased its stake in BRC by 270.7% in the first 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 period. Engineers Gate Manager LP lifted its holdings in shares of BRC by 83.2% during the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company's stock worth $27,000 after purchasing an additional 11,048 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of BRC by 53.8% during the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company's stock worth $81,000 after purchasing an additional 25,519 shares during the period. Bank of America Corp DE grew its position in BRC by 9.2% in the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock valued at $110,000 after buying an additional 11,933 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in BRC in the 1st quarter valued at $232,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

BRC Company Profile

Black Rifle Coffee Company NYSE: BRCC is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.

The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.

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