Fmr LLC Increases Stock Position in Solo Brands, Inc. (NYSE:DTC)

Fmr LLC grew its stake in Solo Brands, Inc. (NYSE:DTC) by 235.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 30,232 shares of the company’s stock after buying an additional 21,209 shares during the quarter. Fmr LLC’s holdings in Solo Brands were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DTC. Lakewood Asset Management LLC raised its holdings in shares of Solo Brands by 42.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock valued at $115,000 after buying an additional 24,325 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Solo Brands by 42.1% during the third quarter. Concurrent Investment Advisors LLC now owns 210,918 shares of the company’s stock valued at $297,000 after acquiring an additional 62,530 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Solo Brands by 5.3% during the third quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock worth $566,000 after acquiring an additional 20,368 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Solo Brands by 7.1% in the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after acquiring an additional 41,073 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Solo Brands by 9.4% in the 2nd quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock valued at $1,640,000 after purchasing an additional 62,014 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price target on shares of Solo Brands in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.93.

Solo Brands Price Performance

DTC stock opened at $1.06 on Thursday. The stock has a market capitalization of $97.17 million, a price-to-earnings ratio of -0.31 and a beta of 2.50. The firm’s 50-day moving average price is $1.22 and its two-hundred day moving average price is $1.58. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. Solo Brands, Inc. has a 12-month low of $1.03 and a 12-month high of $6.36.

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.