Solo Brands, Inc. (NYSE:DTC) CEO Christopher T. Metz Purchases 52,366 Shares

Solo Brands, Inc. (NYSE:DTC) CEO Christopher T. Metz bought 52,366 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the purchase, the chief executive officer now owns 152,366 shares of the company’s stock, valued at $295,590.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Solo Brands Stock Up 7.2 %

Shares of Solo Brands stock opened at $2.09 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16. The stock has a market cap of $190.75 million, a price-to-earnings ratio of -1.04, a PEG ratio of 0.50 and a beta of 2.57. The firm’s 50-day moving average is $1.93 and its two-hundred day moving average is $2.96. Solo Brands, Inc. has a 1 year low of $1.74 and a 1 year high of $6.67.

Solo Brands (NYSE:DTC) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. The firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $80.48 million. During the same quarter in the previous year, the business posted $0.09 EPS. As a group, research analysts expect that Solo Brands, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DTC. American Century Companies Inc. raised its position in Solo Brands by 14.9% during the third quarter. American Century Companies Inc. now owns 4,147,618 shares of the company’s stock worth $21,153,000 after acquiring an additional 538,995 shares during the period. Boston Partners acquired a new position in Solo Brands during the fourth quarter worth about $13,159,000. Hillsdale Investment Management Inc. grew its position in shares of Solo Brands by 18.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 867,941 shares of the company’s stock valued at $5,347,000 after purchasing an additional 133,600 shares in the last quarter. First Dallas Securities Inc. acquired a new stake in shares of Solo Brands in the 3rd quarter worth $3,018,000. Finally, Sei Investments Co. boosted its position in shares of Solo Brands by 20.6% during the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after acquiring an additional 99,262 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DTC. Canaccord Genuity Group reduced their price target on Solo Brands from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Citigroup reduced their target price on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. B. Riley reissued a “neutral” rating and set a $2.20 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Jefferies Financial Group cut their price objective on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a report on Friday, March 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $3.00 target price (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Solo Brands presently has an average rating of “Hold” and an average price target of $3.54.

Solo Brands Company Profile

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and 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; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.