Wasatch Advisors LP Increases Stake in BRC Inc. (NYSE:BRCC)

Wasatch Advisors LP lifted its stake in BRC Inc. (NYSE:BRCC) by 334.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,459,418 shares of the company’s stock after purchasing an additional 1,123,157 shares during the quarter. Wasatch Advisors LP owned about 0.69% of BRC worth $6,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in BRC by 106.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock worth $27,000 after buying an additional 3,831 shares during the last quarter. Allworth Financial LP raised its position in BRC by 83.6% during the 4th quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after buying an additional 4,450 shares during the last quarter. SG Americas Securities LLC purchased a new position in BRC during the 4th quarter worth approximately $37,000. Intrinsic Edge Capital Management LLC purchased a new position in BRC during the 4th quarter worth approximately $50,000. Finally, Alhambra Investment Management LLC raised its position in BRC by 21.8% during the 4th quarter. Alhambra Investment Management LLC now owns 16,750 shares of the company’s stock worth $61,000 after buying an additional 3,000 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Stock Performance

Shares of NYSE BRCC traded down $0.16 during midday trading on Tuesday, reaching $5.95. 759,668 shares of the stock were exchanged, compared to its average volume of 829,644. The firm has a 50-day simple moving average of $5.52 and a two-hundred day simple moving average of $4.63. BRC Inc. has a twelve month low of $2.51 and a twelve month high of $7.14. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -33.05 and a beta of 1.22. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 1.02.

BRC (NYSE:BRCC) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. BRC had a negative net margin of 2.78% and a positive return on equity of 14.15%. The firm had revenue of $98.39 million for the quarter, compared to analysts’ expectations of $97.78 million. As a group, analysts anticipate that BRC Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of BRC in a research report on Thursday, May 16th. Roth Mkm reaffirmed a “buy” rating and set a $7.00 price objective (up previously from $6.00) on shares of BRC in a research note on Friday, May 10th. Tigress Financial reaffirmed a “buy” rating and set a $11.00 price objective on shares of BRC in a research note on Wednesday, May 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 price objective on shares of BRC in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.00.

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.