American Century Companies Inc. Buys 384,989 Shares of Solo Brands, Inc. (NYSE:DTC)

American Century Companies Inc. grew its stake in shares of Solo Brands, Inc. (NYSE:DTC) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,561,257 shares of the company’s stock after acquiring an additional 384,989 shares during the quarter. American Century Companies Inc. owned about 6.09% of Solo Brands worth $12,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. increased its holdings in Solo Brands by 20.6% in the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after buying an additional 99,262 shares during the period. GSA Capital Partners LLP acquired a new position in Solo Brands during the first quarter valued at approximately $1,059,000. Empowered Funds LLC lifted its stake in Solo Brands by 8.2% during the first quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock worth $768,000 after purchasing an additional 26,765 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Solo Brands by 58.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 148,388 shares of the company’s stock valued at $338,000 after purchasing an additional 54,970 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Solo Brands by 45.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 117,410 shares of the company’s stock valued at $255,000 after purchasing an additional 36,896 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup decreased their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.93.

Solo Brands Trading Down 6.4 %

Shares of NYSE DTC opened at $1.47 on Friday. The firm has a 50 day moving average price of $1.74 and a two-hundred day moving average price of $1.94. The stock has a market cap of $134.16 million, a P/E ratio of -0.73 and a beta of 2.54. Solo Brands, Inc. has a 52-week low of $1.08 and a 52-week high of $6.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 2.49.

Solo Brands (NYSE:DTC) last announced 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). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The company had revenue of $131.55 million for the quarter, compared to the consensus estimate of $128.50 million. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, equities analysts forecast that Solo Brands, Inc. will post 0.21 EPS for the current year.

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.