TD Asset Management Inc Makes New $267,000 Investment in BRC Inc. (NYSE:BRCC)

TD Asset Management Inc purchased a new stake in BRC Inc. (NYSE:BRCC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,600 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new position in BRC during the second quarter worth $28,000. Comerica Bank raised its stake in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after purchasing an additional 4,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in BRC in the 1st quarter valued at about $45,000. Intrinsic Edge Capital Management LLC purchased a new position in BRC in the 4th quarter valued at about $50,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of BRC during the 4th quarter worth about $72,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BRC

In other news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The disclosure for this sale can be found here. 73.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on BRCC shares. Tigress Financial restated a “buy” rating and set a $11.00 target price on shares of BRC in a research report on Wednesday, May 22nd. Telsey Advisory Group lowered their price objective on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $5.50 price objective on shares of BRC in a research note on Friday, September 6th. Finally, Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, BRC has a consensus rating of “Moderate Buy” and an average target price of $6.63.

BRC Trading Up 1.8 %

Shares of NYSE:BRCC opened at $3.31 on Monday. The stock has a 50-day simple moving average of $4.72 and a 200-day simple moving average of $4.94. BRC Inc. has a 1 year low of $2.51 and a 1 year high of $7.14. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The business had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. During the same quarter last year, the firm posted ($0.03) EPS. As a group, sell-side analysts forecast that BRC Inc. will post -0.02 EPS for the current year.

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.