Engaged Capital LLC Has $46.29 Million Stock Position in BRC Inc. (NYSE:BRCC)

Engaged Capital LLC boosted its position in BRC Inc. (NYSE:BRCC - Free Report) by 5.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,535,560 shares of the company's stock after purchasing an additional 684,542 shares during the period. BRC comprises 7.5% of Engaged Capital LLC's investment portfolio, making the stock its 6th biggest position. Engaged Capital LLC owned approximately 6.37% of BRC worth $46,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BRCC. Vanguard Group Inc. grew its position in shares of BRC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company's stock valued at $17,817,000 after acquiring an additional 14,361 shares during the period. Comerica Bank boosted its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company's stock worth $26,000 after buying an additional 4,600 shares during the period. Bank of New York Mellon Corp boosted its holdings in BRC by 42.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,053 shares of the company's stock worth $987,000 after buying an additional 47,800 shares during the period. Fortis Group Advisors LLC boosted its holdings in BRC by 25.0% in 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 period. Finally, nVerses Capital LLC bought a new position in BRC in the 2nd quarter worth approximately $28,000. 16.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Evan Hafer sold 1,000,000 shares of BRC stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.17, for a total transaction of $3,170,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now directly owns 15,851 shares of the company's stock, valued at approximately $60,392.31. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,010,884 shares of company stock worth $12,811,468 in the last 90 days. 73.80% of the stock is owned by company insiders.

BRC Price Performance

Shares of BRC stock traded up $0.05 on Friday, hitting $3.14. 266,115 shares of the company traded hands, compared to its average volume of 888,788. The firm's 50-day simple moving average is $3.20 and its 200 day simple moving average is $4.51. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. The company has a market cap of $668.00 million, a P/E ratio of -38.63 and a beta of 1.16. BRC Inc. has a 12-month low of $2.78 and a 12-month high of $7.14.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $98.20 million for the quarter, compared to analysts' expectations 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 last year, the company posted ($0.05) EPS. Analysts expect that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Roth Mkm reaffirmed a "neutral" rating and issued a $3.50 price objective (down from $4.00) on shares of BRC in a report on Wednesday, November 6th. DA Davidson reiterated a "buy" rating and issued a $5.50 target price on shares of BRC in a research note on Wednesday, September 18th. Telsey Advisory Group reiterated an "outperform" rating and issued a $6.00 target price on shares of BRC in a research note on Thursday, October 31st. Finally, Roth Capital cut shares of BRC from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $6.50.

BRC Profile

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.