Solo Brands, Inc. (NYSE:DTC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Solo Brands, Inc. (NYSE:DTC) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,460 shares of the company’s stock after buying an additional 25,194 shares during the period. Victory Capital Management Inc. owned about 0.14% of Solo Brands worth $810,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DTC. American Century Companies Inc. increased its holdings in shares of Solo Brands by 14.9% in the 3rd quarter. American Century Companies Inc. now owns 4,147,618 shares of the company’s stock valued at $21,153,000 after acquiring an additional 538,995 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Solo Brands in the third quarter valued at $365,000. Millrace Asset Group Inc. acquired a new position in Solo Brands in the third quarter valued at $1,819,000. Kennedy Capital Management LLC purchased a new position in shares of Solo Brands during the third quarter worth about $2,653,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Solo Brands during the third quarter worth about $474,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Insider Buying and Selling at Solo Brands

In related news, CEO Christopher T. Metz purchased 100,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the acquisition, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $227,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on DTC shares. Jefferies Financial Group cut their price target on Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a research report on Friday, March 15th. Piper Sandler reiterated a “neutral” rating and set a $3.00 price target (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. B. Riley restated a “neutral” rating and issued a $2.20 price objective (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. JPMorgan Chase & Co. downgraded shares of Solo Brands from an “overweight” rating to an “underweight” rating in a research note on Friday, February 2nd. Finally, Citigroup lowered their price target on Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Solo Brands presently has a consensus rating of “Hold” and an average price target of $3.54.

Solo Brands Stock Up 1.5 %

Shares of NYSE:DTC opened at $2.08 on Thursday. Solo Brands, Inc. has a fifty-two week low of $1.74 and a fifty-two week high of $6.67. The company has a quick ratio of 1.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $3.31. The company has a market cap of $189.65 million, a price-to-earnings ratio of -1.03, a PEG ratio of 0.71 and a beta of 2.59.

Solo Brands (NYSE:DTC) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $85.32 million for the quarter, compared to analyst estimates of $80.48 million. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities research analysts predict that Solo Brands, Inc. will post 0.25 earnings per share for the current year.

About Solo Brands

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.