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T   20.42 (+1.04%)
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PFE   52.52 (+3.69%)
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Brilliant Earth Group (NASDAQ:BRLT) Announces Earnings Results

Saturday, May 14, 2022 | MarketBeat

Brilliant Earth Group (NASDAQ:BRLT - Get Rating) released its earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.02, MarketWatch Earnings reports. Brilliant Earth Group updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NASDAQ:BRLT traded down $2.29 during trading on Friday, hitting $4.46. The company's stock had a trading volume of 50,085 shares, compared to its average volume of 114,537. The business has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $12.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.95 and a current ratio of 2.22. Brilliant Earth Group has a fifty-two week low of $6.30 and a fifty-two week high of $20.39.

In related news, CFO Jeffrey Chuenhong Kuo sold 19,185 shares of the business's stock in a transaction on Monday, April 4th. The shares were sold at an average price of $9.48, for a total transaction of $181,873.80. Following the completion of the transaction, the chief financial officer now owns 541,672 shares in the company, valued at $5,135,050.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Eric Scott Grossberg sold 12,536 shares of the business's stock in a transaction on Monday, February 14th. The stock was sold at an average price of $12.10, for a total transaction of $151,685.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,626 shares of company stock valued at $2,148,899.


A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAM Holding AG acquired a new position in Brilliant Earth Group in the fourth quarter valued at $14,177,000. Weiss Multi Strategy Advisers LLC boosted its stake in Brilliant Earth Group by 219.0% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 255,171 shares of the company's stock valued at $4,608,000 after acquiring an additional 175,171 shares in the last quarter. Marshall Wace LLP acquired a new position in Brilliant Earth Group in the fourth quarter valued at $4,571,000. Renaissance Technologies LLC acquired a new position in Brilliant Earth Group in the fourth quarter valued at $2,149,000. Finally, Bank of Montreal Can acquired a new position in Brilliant Earth Group in the first quarter valued at $1,230,000. Institutional investors own 8.90% of the company's stock.

BRLT has been the topic of several analyst reports. Cowen reduced their price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday. Piper Sandler lifted their price target on shares of Brilliant Earth Group from $20.00 to $21.00 in a research report on Friday, January 21st. Cowen reduced their price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday. Finally, Zacks Investment Research lowered shares of Brilliant Earth Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.00.

About Brilliant Earth Group (Get Rating)

Brilliant Earth Group, Inc engages in the design, procurement, and retail sale of diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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