Insider Buying: BRC Inc. (NYSE:BRCC) Director Buys 100,000 Shares of Stock

Key Points

• Steven Taslitz, a director at BRC Inc. (NYSE:BRCC), purchased 100,000 shares at an average price of $1.31 per share, increasing his total holdings to 1,786,203 shares, valued at approximately $2.34 million.
• BRC Inc. reported a loss of ($0.07) earnings per share in its latest quarterly earnings, missing expectations, but its revenue of $94.84 million surpassed estimates.
• Analysts have mixed views on BRC, with Roth Capital setting a $2.00 target price and Telsey Advisory Group maintaining an "outperform" rating with a $4.00 price target for the stock.

BRC Inc. (NYSE:BRCC - Get Free Report) Director Steven Taslitz bought 100,000 shares of BRC stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $1.31 per share, with a total value of $131,000.00. Following the completion of the purchase, the director owned 1,786,203 shares in the company, valued at approximately $2,339,925.93. This trade represents a 5.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

BRC Trading Down 2.2%

NYSE:BRCC traded down $0.04 during trading hours on Friday, hitting $1.54. The company had a trading volume of 93,904 shares, compared to its average volume of 795,797. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 1.97. The company has a 50-day moving average of $1.58 and a 200 day moving average of $1.97. The company has a market cap of $218.86 million, a P/E ratio of -10.23 and a beta of 0.93. BRC Inc. has a 1 year low of $1.19 and a 1 year high of $4.65.

BRC (NYSE:BRCC - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The company had revenue of $94.84 million during the quarter, compared to analysts' expectations of $91.78 million. BRC had a negative net margin of 2.89% and a negative return on equity of 12.88%. Sell-side analysts expect that BRC Inc. will post -0.02 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on BRCC shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $4.00 target price on shares of BRC in a research note on Tuesday, August 5th. Roth Capital set a $2.00 price objective on BRC and gave the company a "neutral" rating in a research note on Wednesday, May 7th.

Hedge Funds Weigh In On BRC

A number of hedge funds have recently modified their holdings of BRCC. Raymond James Financial Inc. purchased a new position in shares of BRC during the 4th quarter worth $76,000. American Century Companies Inc. grew its holdings in shares of BRC by 7.9% during the 4th quarter. American Century Companies Inc. now owns 105,701 shares of the company's stock worth $335,000 after purchasing an additional 7,742 shares during the period. Geode Capital Management LLC grew its holdings in shares of BRC by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,116,595 shares of the company's stock worth $3,540,000 after purchasing an additional 42,957 shares during the period. Bank of Montreal Can purchased a new position in shares of BRC during the 4th quarter worth $96,000. Finally, Barclays PLC grew its holdings in shares of BRC by 11.2% during the 4th quarter. Barclays PLC now owns 83,339 shares of the company's stock worth $264,000 after purchasing an additional 8,372 shares during the period. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.