Balyasny Asset Management L.P. Invests $157,000 in BRC Inc. (NYSE:BRCC)

Balyasny Asset Management L.P. acquired a new position in shares of BRC Inc. (NYSE:BRCC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 49,652 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRCC. Geode Capital Management LLC boosted its stake in shares of BRC by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,116,595 shares of the company’s stock worth $3,540,000 after buying an additional 42,957 shares during the last quarter. Northern Trust Corp raised its holdings in shares of BRC by 2.2% in the 4th quarter. Northern Trust Corp now owns 417,230 shares of the company’s stock valued at $1,323,000 after purchasing an additional 8,790 shares during the period. Tudor Investment Corp ET AL lifted its stake in BRC by 34.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 265,472 shares of the company’s stock valued at $842,000 after purchasing an additional 68,646 shares during the last quarter. American Century Companies Inc. grew its holdings in BRC by 7.9% during the fourth quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock worth $335,000 after purchasing an additional 7,742 shares during the period. Finally, Barclays PLC increased its position in BRC by 11.2% during the fourth quarter. Barclays PLC now owns 83,339 shares of the company’s stock worth $264,000 after buying an additional 8,372 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Stock Up 1.8%

NYSE BRCC opened at $1.98 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. The company has a market cap of $421.11 million, a price-to-earnings ratio of -24.69 and a beta of 1.14. The company has a 50 day moving average of $2.07 and a 200-day moving average of $2.58. BRC Inc. has a 1-year low of $1.48 and a 1-year high of $7.14.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $89.97 million during the quarter, compared to analyst estimates of $88.08 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. On average, equities research analysts expect that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on BRCC shares. Roth Capital set a $2.00 target price on BRC and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. DA Davidson restated a “buy” rating and issued a $3.00 price target on shares of BRC in a research note on Wednesday, March 19th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of BRC in a report on Thursday, May 1st. Finally, Roth Mkm reissued a “neutral” rating and set a $2.50 target price (down previously from $3.50) on shares of BRC in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BRC currently has a consensus rating of “Moderate Buy” and an average target price of $4.50.

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.