BRC (NYSE:BRCC) Insider Evan Hafer Sells 5,572 Shares of Company Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 5,572 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $10.59, for a total value of $59,007.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $10.56, for a total value 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 Trading Up 6.0%

BRC stock opened at $10.60 on Wednesday. The stock has a market cap of $265.21 million, a P/E ratio of -35.32 and a beta of 1.25. 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 1 year low of $6.00 and a 1 year high of $18.55. The firm’s 50 day moving average price is $9.07 and its 200-day moving average price is $11.00.

Hedge Funds Weigh In On BRC

Institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP grew its stake in shares of BRC by 83.2% in the 2nd quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock worth $27,000 after buying an additional 11,048 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of BRC by 53.8% in the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after buying an additional 25,519 shares during the last quarter. Zazove Associates LLC raised its position 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 valued at $1,552,000 after buying an additional 1,460,546 shares in the last quarter. Bank of America Corp DE raised its position in shares of BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after buying an additional 11,933 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of BRC during the 1st quarter valued at about $232,000. Institutional investors own 16.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Craig Hallum began coverage on shares of BRC in a research note on Monday, August 3rd. They set a “buy” rating and a $17.50 target price for the company. Weiss Ratings downgraded shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Finally, DA Davidson boosted their price target on shares of BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.