Zazove Associates LLC Buys 1,460,546 Shares of BRC Inc. $BRCC

Zazove Associates LLC increased its stake in BRC Inc. (NYSE:BRCC) by 270.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,000,000 shares of the company’s stock after buying an additional 1,460,546 shares during the quarter. Zazove Associates LLC’s holdings in BRC were worth $1,552,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BRCC. Engineers Gate Manager LP purchased a new stake in shares of BRC in the second quarter worth $27,000. Virtu Financial LLC boosted its stake in BRC by 82.2% in the 3rd quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock worth $33,000 after purchasing an additional 9,492 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in BRC during the 4th quarter valued at about $26,000. BNP Paribas Financial Markets grew its position in BRC by 312.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock valued at $42,000 after purchasing an additional 20,469 shares during the last quarter. Finally, Invesco Ltd. increased its stake in BRC by 96.1% during the 4th quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock valued at $33,000 after purchasing an additional 14,769 shares in the last quarter. 16.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $2.50 target price on shares of BRC in a report on Thursday, July 2nd. Weiss Ratings raised shares of BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BRC has a consensus rating of “Hold” and an average target price of $2.50.

BRC Price Performance

BRCC opened at $1.04 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.36. The stock has a market capitalization of $260.73 million, a P/E ratio of -10.45 and a beta of 1.25. The company’s 50-day simple moving average is $1.27 and its two-hundred day simple moving average is $1.06. BRC Inc. has a 52-week low of $0.60 and a 52-week high of $1.85.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. BRC had a negative net margin of 2.17% and a negative return on equity of 14.55%. The firm had revenue of $109.23 million during the quarter, compared to analyst estimates of $96.95 million.

Insiders Place Their Bets

In related news, insider Evan Hafer sold 2,000,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 54.87% of the stock is currently owned by company insiders.

BRC Company Profile

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.