Bank of New York Mellon Corp Buys 47,800 Shares of BRC Inc. (NYSE:BRCC)

Bank of New York Mellon Corp lifted its position in BRC Inc. (NYSE:BRCC) by 42.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,053 shares of the company’s stock after purchasing an additional 47,800 shares during the quarter. Bank of New York Mellon Corp’s holdings in BRC were worth $987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRCC. Dynamic Technology Lab Private Ltd bought a new position in BRC during the fourth quarter valued at $72,000. Intrinsic Edge Capital Management LLC bought a new position in shares of BRC in the 4th quarter valued at about $50,000. Wasatch Advisors LP purchased a new position in BRC in the fourth quarter worth about $1,221,000. Virtu Financial LLC bought a new stake in BRC during the fourth quarter worth approximately $169,000. Finally, Fortis Group Advisors LLC bought a new stake in BRC during the first quarter worth approximately $195,000. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Evan Hafer sold 1,000,000 shares of BRC stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.17, for a total transaction of $3,170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock valued at $12,811,468 in the last 90 days. Company insiders own 73.80% of the company’s stock.

BRC Trading Down 5.6 %

Shares of NYSE BRCC opened at $3.37 on Friday. BRC Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The company has a market cap of $715.50 million, a price-to-earnings ratio of -18.72 and a beta of 1.18. The business’s 50 day moving average price is $4.50 and its 200-day moving average price is $4.92.

BRC (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The business had revenue of $89.02 million for the quarter, compared to analyst estimates of $101.54 million. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, sell-side analysts expect that BRC Inc. will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BRCC. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $5.50 price objective on shares of BRC in a research note on Wednesday. Telsey Advisory Group cut their price objective on shares of BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Roth Mkm lowered shares of BRC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $4.00 in a report on Friday, August 9th. Three research 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, BRC presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

BRC Company 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.