JFG Wealth Management LLC Acquires Shares of 25,000 Solo Brands, Inc. (NYSE:DTC)

JFG Wealth Management LLC bought a new stake in Solo Brands, Inc. (NYSE:DTC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the company’s stock, valued at approximately $154,000.

A number of other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust bought a new position in Solo Brands in the 4th quarter worth approximately $25,000. Bank of New York Mellon Corp boosted its holdings in shares of Solo Brands by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 187,710 shares of the company’s stock worth $957,000 after acquiring an additional 7,048 shares during the period. AXQ Capital LP purchased a new position in shares of Solo Brands in the third quarter valued at $67,000. WINTON GROUP Ltd bought a new stake in shares of Solo Brands during the 3rd quarter valued at $71,000. Finally, Brandywine Global Investment Management LLC lifted its holdings in Solo Brands by 13.4% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 189,329 shares of the company’s stock worth $966,000 after purchasing an additional 22,439 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $2.20 target price (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th. William Blair lowered shares of Solo Brands from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Piper Sandler reiterated a “neutral” rating and issued a $3.00 target price (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Craig Hallum lowered shares of Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a research report on Monday, January 8th. Finally, Citigroup lowered their price objective on Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.54.

Insiders Place Their Bets

In other Solo Brands news, CEO Christopher T. Metz acquired 100,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $2.27 per share, with a total value of $227,000.00. Following the purchase, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $227,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.93% of the company’s stock.

Solo Brands Price Performance

NYSE:DTC remained flat at $1.85 during midday trading on Thursday. 44,397 shares of the company traded hands, compared to its average volume of 912,493. The firm has a market cap of $168.68 million, a P/E ratio of -0.95, a PEG ratio of 0.66 and a beta of 2.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 0.95. Solo Brands, Inc. has a one year low of $1.74 and a one year high of $8.86. The stock has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $3.52.

Solo Brands (NYSE:DTC) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $165.32 million during the quarter, compared to analyst estimates of $166.15 million. Solo Brands had a positive return on equity of 7.33% and a negative net margin of 22.50%. As a group, research analysts forecast that Solo Brands, Inc. will post 0.25 earnings per share for the current year.

Solo Brands Company Profile

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.