Brilliant Earth Group (NASDAQ:BRLT) Director Jennifer Noel Harris Sells 20,020 Shares of Stock

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Director Jennifer Noel Harris sold 20,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $1.07, for a total value of $21,421.40. Following the completion of the transaction, the director owned 232,302 shares in the company, valued at approximately $248,563.14. The trade was a 7.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jennifer Noel Harris also recently made the following trade(s):

• On Monday, June 22nd, Jennifer Noel Harris sold 18,336 shares of Brilliant Earth Group stock. The stock was sold at an average price of $1.03, for a total value of $18,886.08.

Brilliant Earth Group Price Performance

Shares of BRLT opened at $1.05 on Wednesday. The firm has a market cap of $106.17 million, a PE ratio of -3.39 and a beta of 1.36. The stock’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $1.46. Brilliant Earth Group, Inc. has a 1 year low of $1.01 and a 1 year high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $99.50 million for the quarter, compared to analysts’ expectations of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. Sell-side analysts anticipate that Brilliant Earth Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BRLT shares. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research note on Friday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Brilliant Earth Group in a research note on Monday, March 2nd. TD Cowen lowered their target price on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a report on Friday, March 6th. Jefferies Financial Group restated a “hold” rating and set a $1.85 target price on shares of Brilliant Earth Group in a research report on Thursday, March 5th. Finally, Weiss Ratings raised Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $1.74.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors have recently added to or reduced their stakes in BRLT. Potomac Capital Management Inc. purchased a new stake in Brilliant Earth Group during the fourth quarter valued at about $422,000. Two Sigma Investments LP purchased a new position in shares of Brilliant Earth Group in the 3rd quarter worth about $308,000. Capital World Investors increased its position in shares of Brilliant Earth Group by 13.2% during the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after purchasing an additional 122,460 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Brilliant Earth Group by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after purchasing an additional 70,833 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Brilliant Earth Group during the 3rd quarter valued at about $84,000. 70.41% of the stock is currently owned by institutional investors.

About Brilliant Earth Group

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.