Engaged Capital LLC Has $46.29 Million Holdings in BRC Inc. (NYSE:BRCC)

Engaged Capital LLC lifted its holdings in shares of BRC Inc. (NYSE:BRCC) by 5.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 13,535,560 shares of the company’s stock after acquiring an additional 684,542 shares during the period. BRC makes up about 7.5% of Engaged Capital LLC’s investment portfolio, making the stock its 6th biggest position. Engaged Capital LLC owned 6.37% of BRC worth $46,292,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Comerica Bank boosted its stake in BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares during the last quarter. nVerses Capital LLC bought a new position in BRC in the second quarter valued at approximately $28,000. Smith Thornton Advisors LLC bought a new position in BRC in the third quarter valued at approximately $45,000. United Asset Strategies Inc. bought a new position in BRC in the third quarter valued at approximately $50,000. Finally, Intech Investment Management LLC bought a new position in BRC in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BRCC. DA Davidson reaffirmed a “buy” rating and issued a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th. Roth Capital lowered shares of 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 issued a $6.00 price objective on shares of BRC in a research report on Thursday, October 31st. Finally, Roth Mkm reissued a “neutral” rating and issued a $3.50 price objective (down previously from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.50.

BRC Stock Up 3.3 %

BRCC stock opened at $3.09 on Friday. The stock has a market capitalization of $657.37 million, a P/E ratio of -38.63 and a beta of 1.16. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. BRC Inc. has a 12 month low of $2.78 and a 12 month high of $7.14. The firm has a 50-day moving average price of $3.20 and a 200-day moving average price of $4.51.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. As a group, equities research analysts anticipate that BRC Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Evan Hafer sold 3,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Davin sold 10,884 shares of the 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 sale, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. This represents a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock valued at $12,811,468 over the last quarter. 73.80% of the stock is owned by company insiders.

BRC Company 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.