BRC Inc. (NYSE:BRCC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of BRC Inc. (NYSE:BRCC) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,906 shares of the company’s stock after selling 8,163 shares during the period. Bank of New York Mellon Corp’s holdings in BRC were worth $221,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of BRC by 1,018.3% in the 4th quarter. Millennium Management LLC now owns 1,798,148 shares of the company’s stock valued at $5,700,000 after purchasing an additional 1,637,357 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of BRC by 697.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company’s stock valued at $1,413,000 after purchasing an additional 389,833 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of BRC in the 4th quarter valued at $872,000. Cresset Asset Management LLC boosted its position in shares of BRC by 4.1% in the 4th quarter. Cresset Asset Management LLC now owns 3,121,815 shares of the company’s stock valued at $9,896,000 after purchasing an additional 121,815 shares during the period. Finally, Graham Capital Management L.P. boosted its position in shares of BRC by 100.7% in the 4th quarter. Graham Capital Management L.P. now owns 158,815 shares of the company’s stock valued at $503,000 after purchasing an additional 79,693 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BRCC shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price target on shares of BRC in a research report on Tuesday. Roth Capital set a $2.00 price target on BRC and gave the company a “neutral” rating in a research report on Wednesday, May 7th.

BRC Trading Down 16.4%

Shares of NYSE BRCC opened at $1.38 on Wednesday. BRC Inc. has a one year low of $1.19 and a one year high of $5.47. The firm has a market capitalization of $196.76 million, a PE ratio of -9.20 and a beta of 0.93. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $2.03.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). BRC had a negative return on equity of 12.00% and a negative net margin of 2.89%. The business had revenue of $94.84 million for the quarter, compared to analyst estimates of $91.78 million. As a group, analysts predict that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BRC news, Director Glenn W. Welling acquired 400,000 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $500,000.00. Following the transaction, the director owned 13,935,560 shares of the company’s stock, valued at $17,419,450. The trade was a 2.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Hafer acquired 80,000 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were acquired at an average price of $1.25 per share, with a total value of $100,000.00. Following the completion of the transaction, the director directly owned 80,000 shares in the company, valued at approximately $100,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 576,000 shares of company stock worth $720,000. 73.80% of the stock is currently owned by company insiders.

BRC 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.