Geode Capital Management LLC Increases Holdings in Solo Brands, Inc. (NYSE:DTC)

Geode Capital Management LLC increased its stake in shares of Solo Brands, Inc. (NYSE:DTC) by 27.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 599,370 shares of the company’s stock after purchasing an additional 129,085 shares during the period. Geode Capital Management LLC’s holdings in Solo Brands were worth $845,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DTC. FMR LLC increased its position in shares of Solo Brands by 235.1% during the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after buying an additional 21,209 shares during the period. American Century Companies Inc. grew its stake in Solo Brands by 7.4% during the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after acquiring an additional 384,989 shares in the last quarter. Empowered Funds LLC increased its holdings in Solo Brands by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock worth $566,000 after acquiring an additional 20,368 shares during the period. Barclays PLC lifted its stake in Solo Brands by 562.2% in the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock worth $53,000 after purchasing an additional 31,995 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Solo Brands by 7.1% in the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock valued at $1,421,000 after purchasing an additional 41,073 shares during the period. Institutional investors own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 price objective on shares of Solo Brands in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.52.

Solo Brands Price Performance

DTC stock opened at $1.07 on Friday. The firm has a 50 day simple moving average of $1.18 and a two-hundred day simple moving average of $1.51. The stock has a market cap of $98.09 million, a PE ratio of -0.31 and a beta of 2.48. Solo Brands, Inc. has a one year low of $1.03 and a one year high of $3.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60.

About Solo Brands

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.