Legato Capital Management LLC Cuts Stake in BRC Inc. (NYSE:BRCC)

Legato Capital Management LLC decreased its position in BRC Inc. (NYSE:BRCC) by 26.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,152 shares of the company’s stock after selling 19,275 shares during the period. Legato Capital Management LLC’s holdings in BRC were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank increased its holdings in shares of BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after purchasing an additional 4,600 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of BRC by 106.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock valued at $27,000 after acquiring an additional 3,831 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of BRC during the 1st quarter worth approximately $45,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of BRC in the 4th quarter worth approximately $50,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BRC in the 4th quarter valued at approximately $72,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

BRC Trading Down 1.6 %

Shares of NYSE BRCC traded down $0.07 during midday trading on Tuesday, reaching $4.32. 590,036 shares of the stock were exchanged, compared to its average volume of 905,029. BRC Inc. has a 52-week low of $2.51 and a 52-week high of $7.14. The stock has a 50 day moving average price of $5.35 and a 200-day moving average price of $4.95. The company has a market capitalization of $917.20 million, a P/E ratio of -24.39 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $89.02 million for the quarter, compared to analysts’ expectations of $101.54 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same quarter last year, the firm earned ($0.03) earnings per share. Equities research analysts expect that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on BRCC. Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $4.00 in a report on Friday, August 9th. Tigress Financial restated a “buy” rating and set a $11.00 target price on shares of BRC in a research report on Wednesday, May 22nd. Needham & Company LLC reiterated a “hold” rating on shares of BRC in a research report on Thursday, May 16th. Telsey Advisory Group dropped their price objective on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

BRC Company 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.