Renaissance Technologies LLC Has $2.57 Million Stake in BRC Inc. (NYSE:BRCC)

Renaissance Technologies LLC grew its holdings in BRC Inc. (NYSE:BRCC) by 131.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 419,300 shares of the company’s stock after purchasing an additional 237,869 shares during the quarter. Renaissance Technologies LLC owned about 0.20% of BRC worth $2,570,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wasatch Advisors LP lifted its position in BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after buying an additional 1,123,157 shares in the last quarter. Maso Capital Partners Ltd acquired a new position in shares of BRC during the first quarter worth approximately $2,140,000. Blair William & Co. IL acquired a new position in shares of BRC during the first quarter worth approximately $731,000. Hollencrest Capital Management grew its stake in shares of BRC by 40.8% during the first quarter. Hollencrest Capital Management now owns 262,820 shares of the company’s stock valued at $1,125,000 after purchasing an additional 76,120 shares during the last quarter. Finally, Magnolia Wealth Management LLC acquired a new stake in shares of BRC in the first quarter valued at approximately $254,000. Institutional investors own 16.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $4.00 in a report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th. Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Telsey Advisory Group dropped their price objective on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Insider Buying and Selling

In other news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Hafer sold 3,000,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock valued at $12,811,468 in the last 90 days. 73.80% of the stock is owned by insiders.

BRC Stock Performance

Shares of BRC stock opened at $3.34 on Wednesday. The firm has a fifty day moving average of $4.22 and a two-hundred day moving average of $4.88. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. BRC Inc. has a 52 week low of $2.51 and a 52 week high of $7.14.

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

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.