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

Charles Schwab Investment Management Inc. trimmed its stake in Solo Brands, Inc. (NYSE:DTC) by 68.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 66,898 shares of the company’s stock after selling 147,938 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Solo Brands were worth $94,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Lakewood Asset Management LLC grew its holdings in Solo Brands by 42.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after buying an additional 24,325 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Solo Brands by 58.8% in the second quarter. Concurrent Investment Advisors LLC now owns 148,388 shares of the company’s stock worth $338,000 after purchasing an additional 54,970 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Solo Brands by 5.3% in the third quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock worth $566,000 after purchasing an additional 20,368 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Solo Brands by 7.1% during the second quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock valued at $1,421,000 after purchasing an additional 41,073 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Solo Brands by 9.4% during the second quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock valued at $1,640,000 after purchasing an additional 62,014 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Price Performance

NYSE:DTC opened at $1.08 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.57 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $1.23 and its 200 day moving average price is $1.60. Solo Brands, Inc. has a 52-week low of $1.03 and a 52-week high of $6.36. The firm has a market cap of $99.01 million, a P/E ratio of -0.31 and a beta of 2.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and set a $3.00 target price on shares of Solo Brands in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.