Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Average Recommendation of “Reduce” from Brokerages

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has earned an average recommendation of “Reduce” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $1.7375.

A number of equities analysts have recently commented on BRLT shares. TD Cowen cut their target price on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a report on Friday, March 6th. B. Riley Financial reiterated a “neutral” rating and set a $1.50 target price (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Jefferies Financial Group reissued a “hold” rating and set a $1.85 target price on shares of Brilliant Earth Group in a research note on Thursday, March 5th. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, January 21st.

Insider Activity at Brilliant Earth Group

In related news, insider Sharon Dziesietnik sold 19,687 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total value of $26,971.19. Following the sale, the insider directly owned 446,736 shares of the company’s stock, valued at approximately $612,028.32. This represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 83.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brilliant Earth Group

A number of large investors have recently bought and sold shares of BRLT. Kapitalo Investimentos Ltda boosted its stake in shares of Brilliant Earth Group by 234.0% during the third quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock valued at $94,000 after acquiring an additional 31,851 shares during the last quarter. Vanguard Group Inc. boosted its position in Brilliant Earth Group by 13.2% during the third quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after acquiring an additional 70,833 shares during the last quarter. Capital World Investors grew its position in shares of Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after purchasing an additional 122,460 shares during the period. Squarepoint Ops LLC purchased a new stake in Brilliant Earth Group in the 3rd quarter valued at about $81,000. Finally, Two Sigma Investments LP purchased a new stake in Brilliant Earth Group in the third quarter valued at approximately $308,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Trading Down 1.5%

Shares of NASDAQ:BRLT opened at $1.30 on Friday. The firm has a 50 day simple moving average of $1.44 and a 200-day simple moving average of $1.85. The company has a market capitalization of $131.44 million, a PE ratio of -5.42 and a beta of 1.43. Brilliant Earth Group has a twelve month low of $1.21 and a twelve month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%.The company had revenue of $124.41 million for the quarter, compared to analyst estimates of $125.33 million. As a group, equities research analysts predict that Brilliant Earth Group will post -0.02 EPS for the current fiscal year.

About Brilliant Earth Group

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.