Solo Brands, Inc. (NYSE:DTC) CEO Acquires $175,273.80 in Stock

Solo Brands, Inc. (NYSE:DTC) CEO Christopher T. Metz bought 134,826 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $1.30 per share, for a total transaction of $175,273.80. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at approximately $650,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Solo Brands Price Performance

Shares of NYSE:DTC traded down $0.05 during trading on Monday, reaching $1.27. The company had a trading volume of 414,841 shares, compared to its average volume of 674,623. The firm’s fifty day moving average is $2.12 and its 200 day moving average is $2.20. The firm has a market capitalization of $115.91 million, a PE ratio of -0.66 and a beta of 2.62. Solo Brands, Inc. has a twelve month low of $1.08 and a twelve month high of $6.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.80.

Solo Brands (NYSE:DTC) last released its earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $85.32 million for the quarter, compared to the consensus estimate of $80.48 million. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. During the same period in the previous year, the firm earned $0.09 EPS. On average, equities analysts forecast that Solo Brands, Inc. will post 0.35 EPS for the current year.

Institutional Trading of Solo Brands

Several large investors have recently modified their holdings of DTC. Parkside Financial Bank & Trust bought a new position in shares of Solo Brands in the 4th quarter valued at about $25,000. Balboa Wealth Partners bought a new position in Solo Brands during the fourth quarter worth $72,000. Gladstone Institutional Advisory LLC bought a new stake in shares of Solo Brands in the fourth quarter valued at about $97,000. 1620 Investment Advisors Inc. acquired a new position in Solo Brands in the fourth quarter valued at about $113,000. Finally, Williams & Novak LLC acquired a new position in Solo Brands in the second quarter valued at about $42,000. 84.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DTC has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research note on Thursday. Canaccord Genuity Group decreased their price target on shares of Solo Brands from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.93.

Solo Brands Company 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.