AQR Capital Management LLC Purchases 62,014 Shares of Solo Brands, Inc. (NYSE:DTC)

AQR Capital Management LLC raised its position in Solo Brands, Inc. (NYSE:DTC) by 9.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 719,307 shares of the company’s stock after acquiring an additional 62,014 shares during the period. AQR Capital Management LLC owned about 0.79% of Solo Brands worth $1,640,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Williams & Novak LLC bought a new stake in shares of Solo Brands during the 2nd quarter worth approximately $42,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Solo Brands during the 2nd quarter worth approximately $43,000. Virtu Financial LLC acquired a new position in shares of Solo Brands during the 1st quarter worth approximately $42,000. Principal Financial Group Inc. acquired a new position in shares of Solo Brands during the 1st quarter worth approximately $43,000. Finally, Lakewood Asset Management LLC acquired a new position in shares of Solo Brands during the 2nd quarter worth approximately $130,000. Institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Performance

Shares of NYSE DTC opened at $1.33 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.49 and a quick ratio of 1.15. The stock’s fifty day moving average price is $1.46 and its two-hundred day moving average price is $1.85. Solo Brands, Inc. has a one year low of $1.08 and a one year high of $6.36. The firm has a market cap of $121.39 million, a price-to-earnings ratio of -0.66 and a beta of 2.54.

Solo Brands (NYSE:DTC) last released its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $131.55 million for the quarter, compared to analyst estimates of $128.50 million. Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. During the same period last year, the company posted $0.15 earnings per share. On average, equities analysts forecast that Solo Brands, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DTC. Citigroup decreased their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reissued a “buy” rating and set a $3.00 target price on shares of Solo Brands in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Solo Brands currently has an average rating of “Hold” and a consensus price target of $2.93.

Insider Buying and Selling

In other Solo Brands news, CEO Christopher T. Metz acquired 115,174 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $1.30 per share, for a total transaction of $149,726.20. Following the transaction, the chief executive officer now directly owns 365,174 shares in the company, valued at $474,726.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Christopher T. Metz bought 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the transaction, the chief executive officer now owns 365,174 shares of the company’s stock, valued at $474,726.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Metz bought 134,826 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at approximately $650,000. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.73% of the stock is owned by corporate insiders.

Solo Brands 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.