Victory Capital Management Inc. acquired a new stake in Solo Brands, Inc. (NYSE:DTC – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 130,500 shares of the company’s stock, valued at approximately $739,000. Victory Capital Management Inc. owned 0.14% of Solo Brands as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wasatch Advisors Inc. boosted 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 purchasing an additional 167,806 shares during the period. Vanguard Group Inc. lifted its stake in Solo Brands by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,116,197 shares of the company’s stock worth $9,522,000 after acquiring an additional 3,878 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Solo Brands by 1.0% in the first quarter. Clearbridge Investments LLC now owns 945,277 shares of the company’s stock worth $8,063,000 after acquiring an additional 9,591 shares during the last quarter. BlackRock Inc. lifted its stake in Solo Brands by 1.2% in the first quarter. BlackRock Inc. now owns 758,686 shares of the company’s stock worth $6,472,000 after acquiring an additional 8,878 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Solo Brands by 3.6% in the first quarter. Geode Capital Management LLC now owns 413,717 shares of the company’s stock worth $2,970,000 after acquiring an additional 14,407 shares during the last quarter. Hedge funds and other institutional investors own 75.38% of the company’s stock.
Analyst Ratings Changes
Separately, Craig Hallum started coverage on shares of Solo Brands in a research note on Monday, September 25th. They issued a “buy” rating and a $8.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.20.
Solo Brands Stock Down 2.6 %
Shares of NYSE:DTC opened at $3.75 on Thursday. The company has a market capitalization of $339.23 million, a PE ratio of 13.39, a P/E/G ratio of 0.53 and a beta of 2.59. The company has a current ratio of 3.10, a quick ratio of 1.44 and a debt-to-equity ratio of 0.23. Solo Brands, Inc. has a twelve month low of $3.39 and a twelve month high of $8.86. The firm has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $5.43.
Solo Brands (NYSE:DTC – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $130.93 million during the quarter, compared to the consensus estimate of $131.37 million. Solo Brands had a net margin of 3.37% and a return on equity of 9.11%. On average, equities analysts predict that Solo Brands, Inc. will post 0.62 EPS for the current fiscal year.
Solo Brands 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.
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