Empowered Funds LLC Increases Stock Position in Solo Brands, Inc. (NYSE:DTC)

Empowered Funds LLC grew its holdings in Solo Brands, Inc. (NYSE:DTC) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 401,715 shares of the company’s stock after acquiring an additional 20,368 shares during the period. Empowered Funds LLC owned 0.44% of Solo Brands worth $566,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DTC. Williams & Novak LLC purchased a new stake in Solo Brands in the 2nd quarter worth $42,000. Dynamic Advisor Solutions LLC purchased a new stake in Solo Brands during the second quarter valued at approximately $43,000. Virtu Financial LLC purchased a new stake in Solo Brands during the 1st quarter valued at $42,000. Lakewood Asset Management LLC purchased a new stake in shares of Solo Brands in the second quarter valued at $130,000. Finally, Concurrent Investment Advisors LLC raised its position in Solo Brands by 58.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 148,388 shares of the company’s stock worth $338,000 after purchasing an additional 54,970 shares during the period. Institutional investors own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

DTC has been the topic of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research note on Tuesday, November 19th. Citigroup decreased their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Solo Brands presently has an average rating of “Hold” and an average target price of $2.93.

Solo Brands Stock Performance

DTC opened at $1.27 on Monday. The firm has a market capitalization of $116.42 million, a PE ratio of -0.37 and a beta of 2.55. The firm has a 50 day moving average of $1.34 and a two-hundred day moving average of $1.71. Solo Brands, Inc. has a 12-month low of $1.03 and a 12-month high of $6.36. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60.

Solo Brands 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.