Cibc World Market Inc. Boosts Stock Position in Solo Brands, Inc. (NYSE:DTC)

Cibc World Market Inc. grew its holdings in Solo Brands, Inc. (NYSE:DTCGet Rating) by 13.3% in the second quarter, Holdings Channel reports. The institutional investor owned 62,642 shares of the company’s stock after acquiring an additional 7,367 shares during the quarter. Cibc World Market Inc.’s holdings in Solo Brands were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in shares of Solo Brands in the second quarter valued at approximately $65,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Solo Brands in the second quarter valued at approximately $47,000. M&T Bank Corp purchased a new stake in shares of Solo Brands in the second quarter valued at approximately $66,000. Russell Investments Group Ltd. purchased a new stake in shares of Solo Brands in the second quarter valued at approximately $1,654,000. Finally, Strs Ohio increased its position in shares of Solo Brands by 1,500.0% in the second quarter. Strs Ohio now owns 43,200 shares of the company’s stock valued at $175,000 after buying an additional 40,500 shares in the last quarter. 80.02% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Stock Down 0.2 %

Shares of NYSE:DTC opened at $4.21 on Thursday. The company has a quick ratio of 0.95, a current ratio of 3.64 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $4.18 and a two-hundred day moving average of $4.51. The stock has a market cap of $402.91 million and a P/E ratio of -52.63. Solo Brands, Inc. has a 52-week low of $3.50 and a 52-week high of $18.34.

Analyst Upgrades and Downgrades

DTC has been the subject of several research reports. Canaccord Genuity Group initiated coverage on Solo Brands in a research report on Thursday, November 17th. They set a “buy” rating and a $7.00 price target for the company. Credit Suisse Group dropped their price target on Solo Brands to $9.00 in a research report on Wednesday, November 16th. Piper Sandler dropped their price target on Solo Brands to $7.00 in a research report on Wednesday, November 16th. Finally, Canaccord Genuity Group began coverage on Solo Brands in a research report on Wednesday, November 16th. They set a “buy” rating and a $7.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.33.

About Solo Brands

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding DTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solo Brands, Inc. (NYSE:DTCGet Rating).

Institutional Ownership by Quarter for Solo Brands (NYSE:DTC)

Receive News & Ratings for Solo Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solo Brands and related companies with MarketBeat.com's FREE daily email newsletter.