Intech Investment Management LLC Acquires New Position in BRC Inc. (NYSE:BRCC)

Intech Investment Management LLC acquired a new position in BRC Inc. (NYSE:BRCC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,469 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank grew its holdings in BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after buying an additional 4,600 shares in the last quarter. nVerses Capital LLC bought a new stake in BRC during the 2nd quarter worth approximately $28,000. Smith Thornton Advisors LLC purchased a new stake in BRC in the 3rd quarter worth approximately $45,000. United Asset Strategies Inc. bought a new position in BRC in the 3rd quarter valued at $50,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock valued at $125,000 after purchasing an additional 5,064 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BRCC shares. Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. DA Davidson restated a “buy” rating and issued a $5.50 price objective on shares of BRC in a research report on Wednesday, September 18th. Finally, Roth Mkm reiterated a “neutral” rating and set a $3.50 target price (down from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.50.

BRC Stock Performance

NYSE:BRCC opened at $3.11 on Monday. BRC Inc. has a 1-year low of $2.78 and a 1-year high of $7.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58. The business has a 50 day moving average of $3.17 and a 200 day moving average of $4.40. The company has a market capitalization of $661.62 million, a price-to-earnings ratio of -38.88 and a beta of 1.14.

BRC (NYSE:BRCC) last released its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. During the same quarter last year, the firm earned ($0.05) EPS. On average, sell-side analysts predict that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at BRC

In related news, Director Evan Hafer sold 1,000,000 shares of BRC stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 73.80% of the company’s stock.

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.