HighTower Advisors LLC Grows Stock Holdings in BRC Inc. (NYSE:BRCC)

HighTower Advisors LLC increased its stake in BRC Inc. (NYSE:BRCC) by 153.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,521 shares of the company’s stock after buying an additional 16,661 shares during the quarter. HighTower Advisors LLC’s holdings in BRC were worth $91,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BRCC. Bank of New York Mellon Corp raised its position in shares of BRC by 42.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,053 shares of the company’s stock valued at $987,000 after purchasing an additional 47,800 shares in the last quarter. Fortis Group Advisors LLC lifted its position in shares of BRC by 25.0% in the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after buying an additional 11,388 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of BRC in the 2nd quarter valued at about $28,000. Rhumbline Advisers boosted its holdings in shares of BRC by 39.6% in the 2nd quarter. Rhumbline Advisers now owns 64,577 shares of the company’s stock valued at $396,000 after buying an additional 18,310 shares during the period. Finally, TD Asset Management Inc bought a new stake in shares of BRC during the 2nd quarter valued at about $267,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

Analysts Set New Price Targets

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

BRC Trading Up 2.7 %

Shares of NYSE BRCC opened at $3.01 on Friday. The stock has a market cap of $640.36 million, a price-to-earnings ratio of -37.63 and a beta of 1.14. The business has a 50 day simple moving average of $3.07 and a 200 day simple moving average of $4.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. BRC Inc. has a 52 week low of $2.78 and a 52 week high of $7.14.

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

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.