United Asset Strategies Inc. Makes New Investment in BRC Inc. (NYSE:BRCC)

United Asset Strategies Inc. purchased a new position in BRC Inc. (NYSE:BRCC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,500 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blair William & Co. IL boosted its stake in shares of BRC by 370.2% during the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after buying an additional 632,000 shares during the last quarter. Maso Capital Partners Ltd purchased a new position in shares of BRC during the 1st quarter valued at approximately $2,140,000. Marshall Wace LLP boosted its stake in shares of BRC by 76.4% during the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after buying an additional 351,757 shares during the last quarter. Riverwater Partners LLC purchased a new position in shares of BRC during the 3rd quarter valued at approximately $1,091,000. Finally, Renaissance Technologies LLC boosted its stake in shares of BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after buying an additional 237,869 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Stock Performance

BRC stock opened at $3.13 on Friday. BRC Inc. has a 52 week low of $2.60 and a 52 week high of $7.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The company’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $4.69.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The company had revenue of $89.02 million during the quarter, compared to analyst estimates of $101.54 million. During the same quarter last year, the firm posted ($0.03) EPS. As a group, analysts expect that BRC Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BRCC has been the subject of several research analyst reports. Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Friday, August 9th. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price target on shares of BRC in a research report on Thursday. Finally, DA Davidson reissued a “buy” rating and set a $5.50 price target on shares of BRC in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and an average target price of $6.63.

Insiders Place Their Bets

In other BRC news, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last ninety days. 73.80% of the stock is currently owned by company insiders.

BRC Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.