Insider Selling: BRC (NYSE:BRCC) Insider Sells 2,724 Shares of Company Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 2,724 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $10.56, for a total value of $28,765.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Tuesday, October 20th, Evan Hafer sold 5,572 shares of BRC stock. The stock was sold at an average price of $10.59, for a total value of $59,007.48.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The shares were sold at an average price of $10.62, for a total value of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The stock was sold at an average price of $10.51, for a total value of $2,102.00.

BRC Stock Up 6.0%

Shares of BRCC stock traded up $0.60 during mid-day trading on Tuesday, hitting $10.60. The stock had a trading volume of 177,718 shares, compared to its average volume of 111,647. BRC Inc. has a 12-month low of $6.00 and a 12-month high of $18.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80. The firm’s 50-day moving average is $9.02 and its two-hundred day moving average is $10.98. The firm has a market capitalization of $265.22 million, a P/E ratio of -35.32 and a beta of 1.25.

Hedge Funds Weigh In On BRC

Several institutional investors have recently bought and sold shares of the business. Zazove Associates LLC raised its stake in BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock worth $1,552,000 after buying an additional 1,460,546 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in BRC during the first quarter worth $232,000. Modera Wealth Management LLC bought a new stake in BRC during the 1st quarter valued at $78,000. Kestra Advisory Services LLC boosted its position in BRC by 63.0% during the 1st quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after acquiring an additional 26,672 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in BRC by 53.8% during the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock valued at $81,000 after acquiring an additional 25,519 shares in the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BRCC has been the subject of a number of research reports. Weiss Ratings lowered shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Craig Hallum assumed coverage on shares of BRC in a report on Monday, August 3rd. They set a “buy” rating and a $17.50 target price on the stock. Finally, DA Davidson raised their target price on shares of BRC from $2.50 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

About BRC

Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.