Bank of New York Mellon Corp Buys 7,048 Shares of Solo Brands, Inc. (NYSE:DTC)

Bank of New York Mellon Corp grew its holdings in Solo Brands, Inc. (NYSE:DTCFree Report) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,710 shares of the company’s stock after buying an additional 7,048 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of Solo Brands worth $957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Solo Brands in the second quarter valued at approximately $36,000. Citigroup Inc. acquired a new stake in shares of Solo Brands in the second quarter worth approximately $37,000. Quantbot Technologies LP acquired a new stake in shares of Solo Brands in the first quarter worth approximately $56,000. UBS Group AG boosted its stake in shares of Solo Brands by 9,253.0% in the fourth quarter. UBS Group AG now owns 9,353 shares of the company’s stock worth $35,000 after acquiring an additional 9,253 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Solo Brands by 38.4% in the second quarter. American International Group Inc. now owns 10,287 shares of the company’s stock worth $42,000 after acquiring an additional 2,852 shares during the last quarter. 75.38% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Price Performance

NYSE:DTC opened at $2.86 on Friday. Solo Brands, Inc. has a 52 week low of $2.57 and a 52 week high of $8.86. The company has a quick ratio of 1.13, a current ratio of 2.95 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $259.83 million, a P/E ratio of 7.53, a P/E/G ratio of 0.53 and a beta of 2.76. The stock’s fifty day moving average is $4.30 and its two-hundred day moving average is $4.78.

Solo Brands (NYSE:DTCGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.17. Solo Brands had a return on equity of 9.62% and a net margin of 4.52%. The company had revenue of $110.32 million for the quarter, compared to the consensus estimate of $104.88 million. Equities analysts expect that Solo Brands, Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DTC shares. JPMorgan Chase & Co. lowered Solo Brands from an “overweight” rating to an “underweight” rating in a research note on Friday, February 2nd. B. Riley started coverage on Solo Brands in a research note on Tuesday, December 12th. They issued a “neutral” rating and a $5.50 price target on the stock. Piper Sandler lowered Solo Brands from an “overweight” rating to a “neutral” rating in a research note on Monday, January 8th. William Blair lowered Solo Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, Jefferies Financial Group lowered Solo Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $12.00 to $4.00 in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Solo Brands has an average rating of “Hold” and a consensus target price of $6.58.

View Our Latest Report on Solo Brands

Solo Brands Profile

(Free Report)

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.

See Also

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

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