Marshall Wace LLP Buys 351,757 Shares of BRC Inc. (NYSE:BRCC)

Marshall Wace LLP raised its stake in shares of BRC Inc. (NYSE:BRCC) by 76.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 812,373 shares of the company’s stock after purchasing an additional 351,757 shares during the quarter. Marshall Wace LLP owned 0.38% of BRC worth $4,980,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in BRC during the second quarter worth about $28,000. Comerica Bank lifted its position in shares of BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BRC during the 1st quarter worth approximately $45,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of BRC during the 4th quarter worth approximately $50,000. Finally, TD Asset Management Inc bought a new stake in shares of BRC during the second quarter valued at approximately $267,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Insider Transactions at BRC

In related news, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other BRC news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the transaction, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock valued at $12,811,468 in the last three months. 73.80% of the stock is owned by corporate insiders.

BRC Stock Down 2.5 %

Shares of NYSE BRCC opened at $3.34 on Wednesday. BRC Inc. has a 52-week low of $2.51 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The business has a fifty day moving average of $4.22 and a two-hundred day moving average of $4.88. The stock has a market cap of $708.75 million, a PE ratio of -18.53 and a beta of 1.18.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $89.02 million during the quarter, compared to the consensus estimate of $101.54 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same period last year, the firm posted ($0.03) EPS. As a group, equities research analysts expect that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Roth Mkm downgraded shares of BRC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $4.00 in a report on Friday, August 9th. Roth Capital lowered shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group dropped their price target on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.63.

BRC Company Profile

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.