BRC (NYSE:BRCC) Stock: Insider Evan Hafer Sells 15,304 Shares

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 15,304 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $10.62, for a total value of $162,528.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 Stock Down 3.7%

Shares of NYSE BRCC traded down $0.39 during mid-day trading on Friday, reaching $10.13. 140,052 shares of the company’s stock were exchanged, compared to its average volume of 103,489. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $10.94. BRC Inc. has a twelve month low of $6.00 and a twelve month high of $18.55. The firm has a market capitalization of $253.65 million, a price-to-earnings ratio of -33.78 and a beta of 1.25.

Analysts Set New Price Targets

A number of brokerages have weighed in on BRCC. Weiss Ratings lowered shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Craig Hallum started coverage on shares of BRC in a research report on Monday, August 3rd. They set a “buy” rating and a $17.50 price objective for the company. Finally, DA Davidson raised their price objective on shares of BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Trading of BRC

Institutional investors have recently modified their holdings of the company. Zazove Associates LLC grew its holdings in shares of BRC by 270.7% during the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock worth $1,552,000 after buying an additional 1,460,546 shares in the last quarter. Renaissance Technologies LLC bought a new stake in BRC in the 1st quarter valued at approximately $232,000. Modera Wealth Management LLC acquired a new position in BRC during the 1st quarter worth approximately $78,000. Kestra Advisory Services LLC boosted its position in BRC by 63.0% during the 1st quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock worth $54,000 after acquiring an additional 26,672 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in BRC by 53.8% during the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after acquiring an additional 25,519 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors.

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.