Verition Fund Management LLC Grows Holdings in BRC Inc. (NYSE:BRCC)

Verition Fund Management LLC increased its holdings in shares of BRC Inc. (NYSE:BRCC - Free Report) by 4,294.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 497,211 shares of the company's stock after acquiring an additional 485,896 shares during the period. Verition Fund Management LLC owned approximately 0.23% of BRC worth $1,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. nVerses Capital LLC acquired a new position in BRC during the second quarter worth $28,000. Comerica Bank raised its position in shares of BRC by 316.4% during the 1st 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 last quarter. Smith Thornton Advisors LLC purchased a new position in BRC in the 3rd quarter valued at about $45,000. United Asset Strategies Inc. acquired a new stake in BRC in the 3rd quarter worth about $50,000. Finally, Intech Investment Management LLC purchased a new stake in BRC during the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 16.29% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $41,468.04. Following the completion of the sale, the director now owns 15,851 shares in the company, valued at $60,392.31. The trade was a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,010,884 shares of company stock worth $12,811,468. Company insiders own 73.80% of the company's stock.

BRC Trading Up 3.3 %

Shares of BRCC traded up $0.10 during midday trading on Friday, hitting $3.11. 600,919 shares of the stock were exchanged, compared to its average volume of 694,668. The stock has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $4.41. BRC Inc. has a 52-week low of $2.78 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. The firm has a market cap of $661.62 million, a P/E ratio of -38.88 and a beta of 1.14.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.06 million. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, research analysts anticipate that BRC Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.