Solo Brands, Inc. (NYSE:DTC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Solo Brands, Inc. (NYSE:DTC) by 68.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,898 shares of the company’s stock after selling 147,938 shares during the period. Charles Schwab Investment Management Inc. owned 0.07% of Solo Brands worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in Solo Brands by 5.3% in the third quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock valued at $566,000 after acquiring an additional 20,368 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Solo Brands by 42.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 210,918 shares of the company’s stock valued at $297,000 after purchasing an additional 62,530 shares in the last quarter. Lakewood Asset Management LLC grew its holdings in Solo Brands by 42.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock valued at $115,000 after purchasing an additional 24,325 shares in the last quarter. AQR Capital Management LLC increased its stake in Solo Brands by 9.4% during the 2nd quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock worth $1,640,000 after buying an additional 62,014 shares during the period. Finally, Sei Investments Co. lifted its holdings in Solo Brands by 7.1% in the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after buying an additional 41,073 shares in the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Solo Brands Price Performance

DTC opened at $1.08 on Friday. The company has a market capitalization of $99.01 million, a P/E ratio of -0.31 and a beta of 2.50. The company has a 50-day moving average of $1.23 and a 200-day moving average of $1.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57. Solo Brands, Inc. has a 1-year low of $1.03 and a 1-year high of $6.36.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.00 target price on shares of Solo Brands in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Solo Brands presently has an average rating of “Hold” and an average target price of $2.93.

About Solo Brands

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.