Creative Planning Buys Shares of 56,154 BRC Inc. (NYSE:BRCC)

Creative Planning bought a new stake in BRC Inc. (NYSE:BRCC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 56,154 shares of the company’s stock, valued at approximately $192,000.

Other large investors have also recently made changes to their positions in the company. Comerica Bank lifted its holdings in shares of BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of BRC in the 2nd quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of BRC in the 1st quarter worth approximately $45,000. The Manufacturers Life Insurance Company lifted its holdings in BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after buying an additional 5,064 shares in the last quarter. Finally, Magnolia Wealth Management LLC acquired a new stake in BRC during the 1st quarter worth approximately $254,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRCC. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 target price on shares of BRC in a report on Thursday, October 31st. DA Davidson reiterated a “buy” rating and set a $5.50 target price on shares of BRC in a report on Wednesday, September 18th. Roth Capital lowered shares of BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Roth Mkm reissued a “neutral” rating and issued a $3.50 price objective (down from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Insider Activity at BRC

In related news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now owns 15,851 shares in the company, valued at $60,392.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BRC news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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 directly owns 15,851 shares in the company, valued at approximately $60,392.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock worth $12,811,468 over the last 90 days. Company insiders own 73.80% of the company’s stock.

BRC Stock Down 2.5 %

Shares of NYSE:BRCC opened at $2.99 on Tuesday. The stock has a market cap of $634.38 million, a P/E ratio of -37.31 and a beta of 1.16. The firm has a fifty day moving average price of $3.40 and a 200 day moving average price of $4.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.59. BRC Inc. has a 1-year low of $2.90 and a 1-year high of $7.14.

BRC (NYSE:BRCC) last released its 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 during the quarter, compared to analysts’ expectations of $95.06 million. During the same quarter last year, the business earned ($0.05) EPS. Sell-side analysts predict that BRC Inc. will post -0.02 EPS for the current 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.