BRC (NYSE:BRCC) Insider Sells $28,765.44 in Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 2,724 shares of the company’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $10.56, for a total transaction of $28,765.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Tuesday, October 20th, Evan Hafer sold 5,572 shares of BRC stock. The shares were sold at an average price of $10.59, for a total transaction of $59,007.48.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The shares were sold at an average price of $10.62, for a total transaction of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The stock was sold at an average price of $10.51, for a total value of $2,102.00.

BRC Price Performance

BRCC stock opened at $11.09 on Friday. BRC Inc. has a twelve month low of $6.00 and a twelve month high of $18.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80. The business’s 50-day simple moving average is $9.16 and its 200 day simple moving average is $11.04.

Hedge Funds Weigh In On BRC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zazove Associates LLC increased its stake in BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after acquiring an additional 1,460,546 shares during the period. Engineers Gate Manager LP raised its position in BRC by 83.2% in the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock worth $27,000 after purchasing an additional 11,048 shares in the last quarter. Squarepoint Ops LLC lifted its stake in BRC by 53.8% during the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after purchasing an additional 25,519 shares during the period. Bank of America Corp DE lifted its stake in BRC by 9.2% during the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock worth $110,000 after purchasing an additional 11,933 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of BRC during the 1st quarter worth approximately $232,000. 16.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Craig Hallum assumed coverage on BRC in a report on Monday, August 3rd. They set a “buy” rating and a $17.50 price objective on the stock. Weiss Ratings cut BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Finally, DA Davidson upped their target price on BRC from $2.50 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

About BRC

Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.