Divisadero Street Capital Management LP Makes New $371,000 Investment in BRC Inc. (NYSE:BRCC)

Divisadero Street Capital Management LP bought a new stake in BRC Inc. (NYSE:BRCC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 60,489 shares of the company’s stock, valued at approximately $371,000.

Other institutional investors also recently made changes to their positions in the company. Comerica Bank grew its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of BRC during the 2nd quarter worth about $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BRC in the 1st quarter worth approximately $45,000. Intrinsic Edge Capital Management LLC bought a new position in shares of BRC in the fourth quarter valued at approximately $50,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of BRC during the fourth quarter valued at approximately $72,000. 16.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BRCC has been the subject of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $5.50 price target on shares of BRC in a research note on Wednesday. Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.00 to $4.00 in a research note on Friday, August 9th. Roth Capital lowered shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Telsey Advisory Group cut their target price on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Insider Activity at BRC

In other BRC news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. 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. Corporate insiders own 73.80% of the company’s stock.

BRC Stock Performance

Shares of BRC stock opened at $3.57 on Friday. BRC Inc. has a 12 month low of $2.51 and a 12 month high of $7.14. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The stock has a market cap of $758.70 million, a PE ratio of -19.83 and a beta of 1.18. The business has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $4.92.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $89.02 million during the quarter, compared to analyst estimates of $101.54 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same period last year, the company posted ($0.03) EPS. On average, sell-side analysts anticipate that BRC Inc. will post -0.02 EPS 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.