Victory Capital Management Inc. Sells 22,052 Shares of Solo Brands, Inc. (NYSE:DTC)

Victory Capital Management Inc. trimmed its position in shares of Solo Brands, Inc. (NYSE:DTC) by 40.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,043 shares of the company’s stock after selling 22,052 shares during the period. Victory Capital Management Inc.’s holdings in Solo Brands were worth $73,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DTC. Janney Montgomery Scott LLC raised its position in Solo Brands by 47.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 105,115 shares of the company’s stock valued at $648,000 after purchasing an additional 33,638 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Solo Brands during the 4th quarter worth $146,000. Hennion & Walsh Asset Management Inc. grew its position in Solo Brands by 45.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 117,410 shares of the company’s stock valued at $255,000 after acquiring an additional 36,896 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Solo Brands during the first quarter worth about $43,000. Finally, GSA Capital Partners LLP bought a new position in shares of Solo Brands in the first quarter worth about $1,059,000. 84.48% of the stock is owned by institutional investors.

Insider Activity at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz purchased 134,826 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $1.30 per share, with a total value of $175,273.80. Following the completion of the transaction, the chief executive officer now owns 500,000 shares of the company’s stock, valued at approximately $650,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher T. Metz bought 115,174 shares of Solo Brands stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $1.30 per share, with a total value of $149,726.20. Following the transaction, the chief executive officer now directly owns 365,174 shares of the company’s stock, valued at $474,726.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Metz purchased 134,826 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $1.30 per share, with a total value of $175,273.80. Following the purchase, the chief executive officer now owns 500,000 shares in the company, valued at $650,000. The disclosure for this purchase can be found here. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup lowered their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their price target on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Solo Brands has a consensus rating of “Hold” and a consensus target price of $2.93.

Solo Brands Price Performance

Shares of DTC opened at $1.52 on Wednesday. The business has a 50-day moving average of $1.70 and a 200-day moving average of $1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.49 and a quick ratio of 1.15. The company has a market capitalization of $138.73 million, a price-to-earnings ratio of -0.76 and a beta of 2.55. Solo Brands, Inc. has a 1 year low of $1.08 and a 1 year high of $6.36.

Solo Brands (NYSE:DTC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The firm had revenue of $131.55 million for the quarter, compared to the consensus estimate of $128.50 million. During the same quarter in the previous year, the business posted $0.15 EPS. As a group, equities research analysts anticipate that Solo Brands, Inc. will post 0.21 earnings per share for the current year.

Solo Brands Company Profile

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.