Stoic Point Capital Management LLC Buys Shares of 741,168 Zevia PBC $ZVIA

Stoic Point Capital Management LLC acquired a new position in Zevia PBC (NYSE:ZVIA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 741,168 shares of the company’s stock, valued at approximately $867,000. Zevia PBC comprises approximately 0.8% of Stoic Point Capital Management LLC’s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of ZVIA. TD Waterhouse Canada Inc. grew its position in Zevia PBC by 6.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 131,042 shares of the company’s stock worth $303,000 after buying an additional 8,237 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in Zevia PBC by 45.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock valued at $77,000 after acquiring an additional 8,787 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Zevia PBC in the 4th quarter worth approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Zevia PBC in the 4th quarter worth approximately $27,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Zevia PBC during the 4th quarter worth approximately $28,000. Institutional investors own 53.21% of the company’s stock.

Insider Transactions at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the completion of the sale, the insider directly owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Zevia PBC Trading Up 0.9%

NYSE:ZVIA opened at $1.59 on Wednesday. The stock has a market capitalization of $122.78 million, a P/E ratio of -15.95 and a beta of 1.00. Zevia PBC has a 1 year low of $1.11 and a 1 year high of $3.63. The firm has a 50 day moving average of $1.57 and a 200-day moving average of $1.50.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $46.09 million during the quarter, compared to analyst estimates of $40.97 million. Zevia PBC had a negative return on equity of 13.43% and a negative net margin of 4.11%. As a group, analysts forecast that Zevia PBC will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zevia PBC has a consensus rating of “Hold” and a consensus price target of $4.42.

Zevia PBC Profile

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.