Insider Selling: Brilliant Earth Group (NASDAQ:BRLT) Director Sells $18,886.08 in Stock

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Director Jennifer Noel Harris sold 18,336 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $1.03, for a total value of $18,886.08. Following the completion of the sale, the director directly owned 213,966 shares of the company’s stock, valued at $220,384.98. The trade was a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jennifer Noel Harris also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Noel Harris sold 20,020 shares of Brilliant Earth Group stock. The stock was sold at an average price of $1.07, for a total value of $21,421.40.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock remained flat at $1.05 during trading hours on Tuesday. 43,536 shares of the company’s stock were exchanged, compared to its average volume of 67,804. Brilliant Earth Group, Inc. has a 52 week low of $1.01 and a 52 week high of $3.10. The stock has a market capitalization of $106.17 million, a PE ratio of -3.39 and a beta of 1.36. The company’s 50-day moving average price is $1.28 and its 200 day moving average price is $1.47.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Brilliant Earth Group had a negative net margin of 0.71% and a negative return on equity of 18.23%. The firm had revenue of $99.50 million during the quarter, compared to the consensus estimate of $98.16 million. Equities research analysts anticipate that Brilliant Earth Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Brilliant Earth Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Brilliant Earth Group in the third quarter valued at approximately $32,000. Algert Global LLC purchased a new position in Brilliant Earth Group in the third quarter valued at about $40,000. Squarepoint Ops LLC acquired a new position in shares of Brilliant Earth Group during the third quarter worth about $81,000. Millennium Management LLC acquired a new position in shares of Brilliant Earth Group during the third quarter worth about $84,000. Finally, Susquehanna International Group LLP boosted its position in shares of Brilliant Earth Group by 257.0% in the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after buying an additional 37,774 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BRLT shares. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. Weiss Ratings upgraded shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. B. Riley Financial reaffirmed a “neutral” rating and issued a $1.50 target price (down from $3.00) on shares of Brilliant Earth Group in a report on Friday, March 6th. TD Cowen reduced their price target on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research report on Friday, March 6th. Finally, Morgan Stanley cut Brilliant Earth Group to a “sector weight” rating in a report on Friday, March 6th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $1.74.

About Brilliant Earth Group

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.