Solo Brands (NYSE:DTC) Stock Price Up 9.6% After Insider Buying Activity

Solo Brands, Inc. (NYSE:DTC – Get Rating) rose 9.6% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $6.57 and last traded at $6.52. Approximately 138,778 shares were traded during trading, a decline of 62% from the average daily volume of 366,670 shares. The stock had previously closed at $5.95.

Specifically, Director David Powers bought 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were acquired at an average cost of $6.49 per share, with a total value of $100,595.00. Following the completion of the transaction, the director now directly owns 15,500 shares in the company, valued at $100,595. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DTC has been the subject of a number of analyst reports. Credit Suisse Group raised their price target on shares of Solo Brands from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 10th. Piper Sandler lifted their target price on shares of Solo Brands from $7.00 to $9.00 in a research note on Friday, March 10th.

Solo Brands Stock Up 7.2 %

The business’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $4.25. The company has a current ratio of 2.91, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $610.57 million, a price-to-earnings ratio of -91.14, a price-to-earnings-growth ratio of 0.49 and a beta of 1.91.

Institutional Trading of Solo Brands

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Solo Brands by 1,799.6% in the 4th quarter. Barclays PLC now owns 17,704 shares of the company’s stock valued at $66,000 after buying an additional 16,772 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Solo Brands in the 4th quarter valued at $44,000. Geode Capital Management LLC grew its holdings in shares of Solo Brands by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 399,310 shares of the company’s stock valued at $1,485,000 after buying an additional 13,981 shares during the period. American Century Companies Inc. grew its holdings in shares of Solo Brands by 10.7% in the 4th quarter. American Century Companies Inc. now owns 3,104,135 shares of the company’s stock valued at $11,547,000 after buying an additional 299,855 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Solo Brands by 7.8% in the 4th quarter. Sei Investments Co. now owns 328,370 shares of the company’s stock valued at $1,222,000 after buying an additional 23,872 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.

About Solo Brands

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Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; grills, cook tops, and tools; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.