Insider Buying: Solo Brands, Inc. (NYSE:DTC) CEO Buys $97,140.70 in Stock

Solo Brands, Inc. (NYSE:DTCGet Free Report) CEO Christopher T. Metz purchased 49,310 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the transaction, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $492,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Solo Brands Stock Up 7.2 %

DTC opened at $2.09 on Friday. 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 debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16. The company’s 50-day moving average is $1.93 and its 200 day moving average is $2.96. The firm has a market capitalization of $190.75 million, a P/E ratio of -1.04, a PEG ratio of 0.50 and a beta of 2.57.

Solo Brands (NYSE:DTCGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. The firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $80.48 million. During the same period last year, the firm posted $0.09 EPS. Research analysts expect that Solo Brands, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DTC shares. Canaccord Genuity Group dropped their price objective on Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Citigroup reduced their price target on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Piper Sandler reiterated a “neutral” rating and set a $3.00 price objective (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Jefferies Financial Group cut their target price on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a research report on Friday, March 15th. Finally, B. Riley reiterated a “neutral” rating and issued a $2.20 price target (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.54.

Get Our Latest Analysis on DTC

Hedge Funds Weigh In On Solo Brands

Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust bought a new position in shares of Solo Brands in the fourth quarter valued at approximately $25,000. Virtu Financial LLC bought a new position in Solo Brands in the 1st quarter valued at $42,000. Principal Financial Group Inc. purchased a new position in shares of Solo Brands during the 1st quarter valued at $43,000. AXQ Capital LP purchased a new position in shares of Solo Brands during the 3rd quarter valued at $67,000. Finally, WINTON GROUP Ltd bought a new position in shares of Solo Brands in the third quarter worth $71,000. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

About Solo Brands

(Get 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.

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