QVIDTVM Management LLC Purchases 627,653 Shares of BRC Inc. (NYSE:BRCC)

QVIDTVM Management LLC lifted its position in BRC Inc. (NYSE:BRCC - Free Report) by 24.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,219,929 shares of the company's stock after acquiring an additional 627,653 shares during the period. BRC accounts for 7.7% of QVIDTVM Management LLC's holdings, making the stock its 6th largest position. QVIDTVM Management LLC owned about 1.52% of BRC worth $11,012,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in BRC by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company's stock worth $17,817,000 after buying an additional 14,361 shares during the last quarter. Comerica Bank raised its stake in BRC by 316.4% during the first quarter. Comerica Bank now owns 6,054 shares of the company's stock worth $26,000 after purchasing an additional 4,600 shares during the period. Bank of New York Mellon Corp grew its stake in shares of BRC by 42.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,053 shares of the company's stock valued at $987,000 after buying an additional 47,800 shares during the period. Fortis Group Advisors LLC increased its holdings in shares of BRC by 25.0% during the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company's stock worth $349,000 after buying an additional 11,388 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in BRC in the second quarter valued at approximately $28,000. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BRCC shares. Telsey Advisory Group reissued an "outperform" rating and issued a $6.00 price objective on shares of BRC in a research report on Thursday, October 31st. DA Davidson reiterated a "buy" rating and issued a $5.50 price objective on shares of BRC in a report on Wednesday, September 18th. Roth Mkm restated a "neutral" rating and set a $3.50 target price (down previously from $4.00) on shares of BRC in a research note on Wednesday, November 6th. Finally, Roth Capital lowered shares of BRC from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $6.50.

Insider Transactions at BRC

In other BRC news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. This trade represents a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock worth $12,811,468 over the last 90 days. 73.80% of the stock is currently owned by insiders.

BRC Price Performance

Shares of BRCC remained flat at $3.00 during mid-day trading on Tuesday. 423,190 shares of the stock were exchanged, compared to its average volume of 892,297. The stock's 50-day simple moving average is $3.24 and its two-hundred day simple moving average is $4.55. The stock has a market cap of $637.16 million, a PE ratio of -37.25 and a beta of 1.16. BRC Inc. has a twelve month low of $2.78 and a twelve month high of $7.14. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92.

BRC (NYSE:BRCC - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts predict that BRC Inc. will post -0.02 earnings per share for the current year.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.