Intech Investment Management LLC Acquires Shares of 16,469 BRC Inc. (NYSE:BRCC)

Intech Investment Management LLC bought a new stake in BRC Inc. (NYSE:BRCC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,469 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in BRC by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock worth $17,817,000 after purchasing an additional 14,361 shares in the last quarter. Marshall Wace LLP grew its position in shares of BRC by 76.4% in the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after buying an additional 351,757 shares during the period. Blair William & Co. IL increased its stake in shares of BRC by 370.2% in the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after acquiring an additional 632,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after acquiring an additional 237,869 shares during the period. Finally, Riverwater Partners LLC bought a new stake in BRC during the third quarter worth about $1,091,000. 16.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other BRC news, Director Evan Hafer sold 1,000,000 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 73.80% of the stock is owned by insiders.

BRC Trading Up 3.3 %

Shares of NYSE BRCC opened at $3.11 on Monday. The firm’s 50 day moving average price is $3.17 and its 200-day moving average price is $4.40. BRC Inc. has a 52-week low of $2.78 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. The company has a market cap of $661.62 million, a PE ratio of -38.88 and a beta of 1.14.

BRC (NYSE:BRCC) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.06 million. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. During the same period in the prior year, the firm posted ($0.05) EPS. On average, equities research analysts expect that BRC Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Roth Mkm restated a “neutral” rating and issued a $3.50 price objective (down previously from $4.00) on shares of BRC in a report on Wednesday, November 6th. DA Davidson restated a “buy” rating and issued a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price objective on shares of BRC in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

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.