Insider Selling: BRC (NYSE:BRCC) Insider Sells $162,528.48 in Stock

Key Points

• Insider sale: Evan Hafer sold 15,304 BRC shares for $162,528.48 at an average price of $10.62 under a pre-arranged Rule 10b5-1 trading plan. He also sold 200 shares worth $2,102 earlier in the week.
• Stock performance: BRCC shares rose 0.5% to $10.53, with the company valued at approximately $263.4 million. The stock has traded between $6.00 and $18.55 over the past year.
• Analyst outlook: Analysts collectively assign BRC a “Moderate Buy” rating, with three Buy ratings and one Sell rating and a consensus price target of $22.50.

BRC Inc. (NYSE:BRCC - Get Free Report) insider Evan Hafer sold 15,304 shares of the business's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $10.62, for a total value of $162,528.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 Stock Up 0.5%

BRCC stock traded up $0.06 during trading on Thursday, reaching $10.53. 158,856 shares of the stock were exchanged, compared to its average volume of 111,157. The firm's 50 day moving average is $8.98 and its 200 day moving average is $10.92. The firm has a market cap of $263.43 million, a P/E ratio of -35.08 and a beta of 1.25. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. BRC Inc. has a twelve month low of $6.00 and a twelve month high of $18.55.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BRCC shares. Craig Hallum initiated coverage on BRC in a research report on Monday, August 3rd. They set a "buy" rating and a $17.50 target price on the stock. Weiss Ratings cut BRC from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 4th. Finally, DA Davidson lifted their price target on shares of BRC from $2.50 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Institutional Trading of BRC

Several institutional investors and hedge funds have recently modified their holdings of BRCC. Engineers Gate Manager LP raised its position in BRC by 83.2% in the 2nd quarter. Engineers Gate Manager LP now owns 24,326 shares of the company's stock valued at $27,000 after buying an additional 11,048 shares during the last quarter. Squarepoint Ops LLC lifted its stake in BRC by 53.8% during the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company's stock valued at $81,000 after acquiring an additional 25,519 shares in the last quarter. Zazove Associates LLC lifted its stake in BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock valued at $1,552,000 after acquiring an additional 1,460,546 shares in the last quarter. Bank of America Corp DE lifted its stake in BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock valued at $110,000 after acquiring an additional 11,933 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in BRC during the 1st quarter worth $232,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

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 and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.

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