Gavin Turner Sells 50,000 Shares of Brilliant Earth Group (NASDAQ:BRLT) Stock

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Director Gavin Turner sold 50,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brilliant Earth Group Stock Up 3.8%

NASDAQ BRLT opened at $1.36 on Friday. Brilliant Earth Group, Inc. has a twelve month low of $1.00 and a twelve month high of $3.10. The business has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.30. The firm has a market cap of $137.51 million, a price-to-earnings ratio of -4.69 and a beta of 1.38.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%.The company had revenue of $115.11 million for the quarter, compared to the consensus estimate of $111.39 million. Research analysts expect that Brilliant Earth Group, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Brilliant Earth Group

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Brilliant Earth Group during the 3rd quarter valued at approximately $32,000. Algert Global LLC purchased a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $40,000. Renaissance Technologies LLC raised its holdings in shares of Brilliant Earth Group by 11.2% during the 4th quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after acquiring an additional 22,000 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Brilliant Earth Group by 58.0% during the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock valued at $109,000 after acquiring an additional 22,793 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its position in shares of Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after acquiring an additional 37,774 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $1.74.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.