Insider Selling: BRC (NYSE:BRCC) Insider Sells $59,007.48 in Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 5,572 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $10.59, for a total transaction of $59,007.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 16th, Evan Hafer sold 2,724 shares of BRC stock. The shares were sold at an average price of $10.56, for a total transaction of $28,765.44.
• 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 shares were sold at an average price of $10.51, for a total transaction of $2,102.00.

BRC Stock Performance

BRCC stock opened at $11.09 on Friday. The firm has a 50-day simple moving average of $9.16 and a 200-day simple moving average of $11.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80. BRC Inc. has a 52 week low of $6.00 and a 52 week high of $18.55.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Zazove Associates LLC boosted its holdings in shares of BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock worth $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of BRC in the first quarter valued at approximately $232,000. Bank of America Corp DE increased its holdings in shares of BRC by 9.2% in the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after purchasing an additional 11,933 shares during the last quarter. Modera Wealth Management LLC purchased a new position in BRC during the first quarter worth approximately $78,000. Finally, Squarepoint Ops LLC lifted its position 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 buying an additional 25,519 shares in the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

BRC Company Profile

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.