Dimensional Fund Advisors LP Sells 359,181 Shares of Solo Brands, Inc. (NYSE:DTC)

Dimensional Fund Advisors LP cut its stake in Solo Brands, Inc. (NYSE:DTC) by 36.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,442 shares of the company’s stock after selling 359,181 shares during the period. Dimensional Fund Advisors LP owned approximately 0.68% of Solo Brands worth $1,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DTC. American Century Companies Inc. raised its position in shares of Solo Brands by 7.4% during the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after buying an additional 384,989 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Solo Brands by 58.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 148,388 shares of the company’s stock valued at $338,000 after acquiring an additional 54,970 shares in the last quarter. Lakewood Asset Management LLC bought a new stake in shares of Solo Brands in the 2nd quarter worth approximately $130,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Solo Brands during the 2nd quarter worth approximately $43,000. Finally, Williams & Novak LLC bought a new stake in shares of Solo Brands during the second quarter valued at approximately $42,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on DTC. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research report on Monday, September 30th. Citigroup reduced their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Solo Brands currently has a consensus rating of “Hold” and a consensus target price of $2.93.

Insiders Place Their Bets

In other news, CEO Christopher T. Metz bought 115,174 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the purchase, the chief executive officer now owns 365,174 shares of the company’s stock, valued at approximately $474,726.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher T. Metz acquired 134,826 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the acquisition, the chief executive officer now directly owns 500,000 shares in the company, valued at $650,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher T. Metz bought 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $1.30 per share, with a total value of $149,726.20. Following the completion of the purchase, the chief executive officer now owns 365,174 shares of the company’s stock, valued at approximately $474,726.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.73% of the company’s stock.

Solo Brands Stock Performance

Shares of NYSE:DTC opened at $1.42 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.49 and a quick ratio of 1.15. The business’s fifty day moving average price is $1.45 and its two-hundred day moving average price is $1.85. Solo Brands, Inc. has a fifty-two week low of $1.08 and a fifty-two week high of $6.36. The stock has a market capitalization of $130.11 million, a price-to-earnings ratio of -0.65 and a beta of 2.54.

Solo Brands (NYSE:DTC) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The firm had revenue of $131.55 million during the quarter, compared to the consensus estimate of $128.50 million. During the same period in the previous year, the company posted $0.15 EPS. As a group, analysts predict that Solo Brands, Inc. will post 0.18 EPS for the current fiscal year.

Solo Brands Profile

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.