Insider Selling: Brilliant Earth Group (NASDAQ:BRLT) Director Sells 50,000 Shares

Key Points

• Brilliant Earth Group Director Gavin Turner sold 50,000 shares at an average price of $1.29, generating $64,500 in proceeds.
• BRLT shares recently traded at $1.31, with a market capitalization of approximately $132.45 million; the stock has ranged from $1.00 to $3.10 over the past year.
• The company reported quarterly revenue of $115.11 million, above estimates, and EPS of $0.03, but analysts maintain a “Reduce” consensus rating with a $1.74 price target. Institutional investors own 70.41% of the stock.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) Director Gavin Turner sold 50,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $1.29, for a total transaction of $64,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Brilliant Earth Group Stock Performance

Shares of BRLT traded down $0.02 during trading hours on Wednesday, hitting $1.31. The stock had a trading volume of 118,886 shares, compared to its average volume of 130,948. The firm has a market cap of $132.45 million, a P/E ratio of -4.52 and a beta of 1.38. The company's fifty day simple moving average is $1.15 and its 200 day simple moving average is $1.30. Brilliant Earth Group, Inc. has a 12-month low of $1.00 and a 12-month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $115.11 million during the quarter, compared to the consensus estimate of $111.39 million. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%. As a group, sell-side analysts predict that Brilliant Earth Group, Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Brilliant Earth Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $1.74.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BRLT. Potomac Capital Management Inc. bought a new stake in shares of Brilliant Earth Group in the fourth quarter worth $422,000. Two Sigma Investments LP acquired a new position in Brilliant Earth Group during the 3rd quarter worth $308,000. Capital World Investors increased its position in shares of Brilliant Earth Group by 13.2% in the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company's stock worth $2,178,000 after purchasing an additional 122,460 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company's stock worth $1,254,000 after purchasing an additional 70,833 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at about $84,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc NASDAQ: BRLT is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.

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