American Century Companies Inc. reduced its holdings in Solo Brands, Inc. (NYSE:DTC – Free Report) by 30.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,168,731 shares of the company’s stock after selling 935,404 shares during the quarter. American Century Companies Inc. owned approximately 2.26% of Solo Brands worth $15,571,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Blair William & Co. IL increased its holdings in Solo Brands by 1,018.4% in the first quarter. Blair William & Co. IL now owns 281,751 shares of the company’s stock valued at $2,403,000 after purchasing an additional 256,559 shares during the period. Wasatch Advisors Inc. increased its stake in shares of Solo Brands by 7.5% in the first quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock valued at $20,519,000 after buying an additional 167,806 shares during the period. Bank of America Corp DE raised its position in shares of Solo Brands by 166.5% during the first quarter. Bank of America Corp DE now owns 238,841 shares of the company’s stock worth $2,037,000 after acquiring an additional 149,227 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Solo Brands by 58.4% in the second quarter. Sei Investments Co. now owns 332,534 shares of the company’s stock worth $1,338,000 after acquiring an additional 122,538 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in Solo Brands in the fourth quarter valued at approximately $269,000. Institutional investors own 75.38% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on DTC shares. Citigroup raised their price target on shares of Solo Brands from $9.00 to $10.00 in a report on Monday, May 8th. William Blair assumed coverage on shares of Solo Brands in a report on Wednesday, June 14th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.50.
Solo Brands Stock Performance
Shares of DTC stock opened at $5.45 on Friday. The firm has a 50 day moving average of $5.70 and a 200-day moving average of $5.83. The company has a market cap of $493.03 million, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 0.78 and a beta of 2.64. The company has a quick ratio of 1.44, a current ratio of 3.10 and a debt-to-equity ratio of 0.23. Solo Brands, Inc. has a 52 week low of $3.39 and a 52 week high of $8.86.
Solo Brands (NYSE:DTC – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Solo Brands had a net margin of 3.37% and a return on equity of 9.11%. The business had revenue of $130.93 million for the quarter, compared to analyst estimates of $131.37 million. On average, equities analysts forecast that Solo Brands, Inc. will post 0.62 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.
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