GAMMA Investing LLC Acquires 555 Shares of Brunswick Co. (NYSE:BC)

GAMMA Investing LLC increased its holdings in Brunswick Co. (NYSE:BC) by 92.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,155 shares of the company’s stock after purchasing an additional 555 shares during the period. GAMMA Investing LLC’s holdings in Brunswick were worth $97,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. SG Americas Securities LLC increased its position in Brunswick by 6.3% during the third quarter. SG Americas Securities LLC now owns 9,865 shares of the company’s stock valued at $827,000 after acquiring an additional 582 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Brunswick during the second quarter valued at $831,000. Truist Financial Corp increased its position in Brunswick by 9.2% during the second quarter. Truist Financial Corp now owns 9,244 shares of the company’s stock valued at $673,000 after acquiring an additional 779 shares during the last quarter. Algert Global LLC bought a new position in Brunswick during the second quarter valued at $498,000. Finally, Maverick Capital Ltd. increased its position in Brunswick by 319.4% during the second quarter. Maverick Capital Ltd. now owns 11,732 shares of the company’s stock valued at $854,000 after acquiring an additional 8,935 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

BC has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. B. Riley lowered their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Robert W. Baird lowered their price objective on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Brunswick presently has a consensus rating of “Moderate Buy” and an average target price of $89.23.

Insider Activity

In other news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Shares of Brunswick stock opened at $83.19 on Tuesday. The business has a 50-day moving average of $79.17 and a 200 day moving average of $79.79. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.46 and a beta of 1.51. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 EPS. As a group, sell-side analysts forecast that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.