Hollencrest Capital Management Trims Stake in BRC Inc. (NYSE:BRCC)

Hollencrest Capital Management lessened its stake in BRC Inc. (NYSE:BRCC) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,195 shares of the company’s stock after selling 74,625 shares during the period. Hollencrest Capital Management owned about 0.09% of BRC worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL purchased a new position in BRC during the first quarter worth approximately $731,000. Wasatch Advisors LP purchased a new stake in BRC in the 4th quarter worth $1,221,000. Comerica Bank increased its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in BRC during the first quarter worth $45,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BRC during the fourth quarter valued at $72,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRCC shares. Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $4.00 in a research note on Friday, August 9th. Telsey Advisory Group dropped their price objective on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. DA Davidson restated a “buy” rating and issued a $5.50 price target on shares of BRC in a research report on Wednesday. Finally, Roth Capital downgraded BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and an average price target of $6.63.

BRC Stock Performance

Shares of BRC stock opened at $3.57 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The stock has a market capitalization of $758.70 million, a price-to-earnings ratio of -19.83 and a beta of 1.18. The business has a 50-day moving average of $4.55 and a 200 day moving average of $4.92. BRC Inc. has a 12 month low of $2.51 and a 12 month high of $7.14.

BRC (NYSE:BRCC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, sell-side analysts forecast that BRC Inc. will post -0.02 earnings per share for the current year.

Insider Transactions at BRC

In other news, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,010,884 shares of company stock valued at $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

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.