BRC (NYSE:BRCC) Director Stephen Kadenacy Sells 105,000 Shares of Stock

BRC Inc. (NYSE:BRCC) Director Stephen Kadenacy sold 105,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $0.82, for a total value of $86,100.00. Following the completion of the transaction, the director directly owned 234,953 shares of the company’s stock, valued at approximately $192,661.46. This trade represents a 30.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BRC Stock Performance

Shares of NYSE BRCC opened at $0.82 on Wednesday. The firm’s 50-day moving average price is $1.13 and its 200-day moving average price is $1.06. BRC Inc. has a 52-week low of $0.60 and a 52-week high of $1.85. The company has a market cap of $205.99 million, a PE ratio of -27.43 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

BRC’s stock is set to reverse split before the market opens on Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, August 21st.

Institutional Trading of BRC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC grew its holdings in BRC by 3.6% during the 2nd quarter. Cerity Partners LLC now owns 256,827 shares of the company’s stock valued at $336,000 after buying an additional 8,930 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of BRC by 30.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,955 shares of the company’s stock worth $61,000 after acquiring an additional 9,102 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of BRC by 9.3% during the 3rd quarter. Alliancebernstein L.P. now owns 107,900 shares of the company’s stock valued at $168,000 after acquiring an additional 9,200 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock valued at $33,000 after purchasing an additional 9,492 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of BRC by 9.2% in the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after purchasing an additional 11,933 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BRCC shares. DA Davidson reissued a “buy” rating and set a $2.50 price target on shares of BRC in a report on Wednesday, August 5th. Craig Hallum started coverage on BRC in a report on Monday, August 3rd. They issued a “buy” rating and a $1.75 price objective for the company. Weiss Ratings cut BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2.25.

About BRC

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.