Stephen Kadenacy Sells 105,000 Shares of BRC (NYSE:BRCC) Stock

Key Points

• Director Stephen Kadenacy sold 105,000 BRC shares for approximately $86,100, reducing his direct ownership by 30.89% to 234,953 shares.
• BRC shares traded around $0.82, near the lower end of their $0.60–$1.85 one-year range, and the company is scheduled for a 1-for-10 reverse stock split before the market opens August 24.
• Analyst sentiment remains a consensus “Moderate Buy,” with an average price target of $2.25, while institutional investors own 16.29% of the company.

BRC Inc. (NYSE:BRCC - Get Free Report) Director Stephen Kadenacy sold 105,000 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $0.82, for a total value of $86,100.00. Following the transaction, the director directly owned 234,953 shares in the company, valued at approximately $192,661.46. This represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

BRC Price Performance

NYSE:BRCC traded up $0.01 during mid-day trading on Tuesday, reaching $0.82. The stock had a trading volume of 900,727 shares, compared to its average volume of 1,079,899. The stock has a market capitalization of $205.99 million, a P/E ratio of -27.43 and a beta of 1.25. The firm has a 50 day moving average price of $1.14 and a two-hundred day moving average price of $1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42. BRC Inc. has a one year low of $0.60 and a one year high of $1.85.

BRC shares are set to reverse split before the market opens on 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 market closes on Friday, August 21st.

Analyst Ratings Changes

BRCC has been the topic of several recent research reports. DA Davidson reaffirmed a "buy" rating and set a $2.50 target price on shares of BRC in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of BRC from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of BRC from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, Craig Hallum started coverage on BRC in a research note on Monday, August 3rd. They set a "buy" rating and a $1.75 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, BRC presently has a consensus rating of "Moderate Buy" and an average price target of $2.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in BRC during the 4th quarter valued at $26,000. Engineers Gate Manager LP bought a new stake in BRC in the 2nd quarter worth $27,000. Invesco Ltd. increased its position in shares of BRC by 96.1% in the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company's stock valued at $33,000 after acquiring an additional 14,769 shares during the period. Virtu Financial LLC increased its position in shares of BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company's stock valued at $33,000 after acquiring an additional 9,492 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of BRC by 312.6% during the third quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company's stock valued at $42,000 after acquiring an additional 20,469 shares during the last quarter. Institutional investors own 16.29% of the company's stock.

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.

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