The Manufacturers Life Insurance Company Has $125,000 Stock Holdings in BRC Inc. (NYSE:BRCC)

The Manufacturers Life Insurance Company lifted its position in shares of BRC Inc. (NYSE:BRCC) by 32.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,464 shares of the company’s stock after buying an additional 5,064 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BRC were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRCC. Vanguard Group Inc. grew its position in BRC by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock worth $17,817,000 after buying an additional 14,361 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after purchasing an additional 1,123,157 shares in the last quarter. Marshall Wace LLP increased its position in shares of BRC by 76.4% in the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after purchasing an additional 351,757 shares during the period. Blair William & Co. IL increased its position in shares of BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after purchasing an additional 632,000 shares during the period. Finally, Maso Capital Partners Ltd acquired a new position in BRC in the first quarter valued at about $2,140,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

BRCC has been the topic of a number of analyst reports. 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 research note on Friday, August 9th. Telsey Advisory Group reduced their price target on shares of BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. DA Davidson restated a “buy” rating and set a $5.50 price objective on shares of BRC in a research report on Wednesday, September 18th. Finally, Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Three equities 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, BRC currently has an average rating of “Moderate Buy” and an average target price of $6.63.

BRC Trading Up 1.2 %

Shares of BRC stock opened at $3.39 on Monday. The firm has a market capitalization of $719.75 million, a PE ratio of -18.83 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $3.70 and its 200 day moving average is $4.77. BRC Inc. has a 1 year low of $2.51 and a 1 year high of $7.14.

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, hitting the consensus estimate of ($0.01). The company 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 in the prior year, the business earned ($0.03) earnings per share. Equities research analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other BRC news, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Davin sold 10,884 shares of the company’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 sale, the director now owns 15,851 shares in the company, valued at $60,392.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,010,884 shares of company stock valued at $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

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.