Solo Brands, Inc. (NYSE:DTC) Stake Lowered by Vanguard Group Inc.

Vanguard Group Inc. decreased its stake in Solo Brands, Inc. (NYSE:DTC) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,731,415 shares of the company’s stock after selling 39,922 shares during the period. Vanguard Group Inc.’s holdings in Solo Brands were worth $3,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new stake in Solo Brands in the fourth quarter valued at $25,000. Principal Financial Group Inc. acquired a new stake in shares of Solo Brands in the 1st quarter worth about $43,000. Balboa Wealth Partners acquired a new stake in shares of Solo Brands in the 4th quarter worth about $72,000. Gladstone Institutional Advisory LLC bought a new stake in Solo Brands in the 4th quarter valued at about $97,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Solo Brands during the 4th quarter valued at about $113,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group dropped their price target on shares of Solo Brands from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Citigroup decreased their price objective on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.93.

Insider Activity

In other news, CEO Christopher T. Metz bought 49,310 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price of $1.97 per share, with a total value of $97,140.70. Following the completion of the acquisition, the chief executive officer now directly owns 250,000 shares in the company, valued at $492,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher T. Metz bought 49,310 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $1.97 per share, with a total value of $97,140.70. Following the completion of the purchase, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $492,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher T. Metz purchased 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price 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 approximately $474,726.20. The disclosure for this purchase can be found here. Insiders purchased 351,676 shares of company stock worth $523,731 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Solo Brands Stock Up 6.7 %

Solo Brands stock opened at $1.43 on Monday. Solo Brands, Inc. has a 52 week low of $1.08 and a 52 week high of $6.64. The stock has a market cap of $130.51 million, a price-to-earnings ratio of -0.71 and a beta of 2.62. The company’s 50-day moving average price is $2.06 and its two-hundred day moving average price is $2.15. The company has a current ratio of 2.80, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45.

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.