Insider Buying: Solo Brands, Inc. (NYSE:DTC) CEO Buys 49,310 Shares of Stock

Solo Brands, Inc. (NYSE:DTC) CEO Christopher T. Metz purchased 49,310 shares of Solo Brands stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $1.97 per share, with a total value of $97,140.70. Following the transaction, the chief executive officer now owns 250,000 shares in the company, valued at $492,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Solo Brands Trading Up 7.2 %

Shares of DTC opened at $2.09 on Friday. Solo Brands, Inc. has a twelve month low of $1.74 and a twelve month high of $6.67. The company has a current ratio of 2.80, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. 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. The firm’s 50-day moving average is $1.93 and its two-hundred day moving average is $2.96.

Solo Brands (NYSE:DTC) last posted its earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. The company had revenue of $85.32 million for the quarter, compared to the consensus estimate of $80.48 million. During the same period in the previous year, the business earned $0.09 earnings per share. On average, research analysts predict that Solo Brands, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on DTC shares. Canaccord Genuity Group dropped their price objective on shares of Solo Brands from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. B. Riley reiterated a “neutral” rating and issued a $2.20 price objective (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Jefferies Financial Group reduced their target price on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research note on Friday, March 15th. Piper Sandler reissued a “neutral” rating and set a $3.00 price target (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Finally, Citigroup lowered their price objective 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 research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Solo Brands presently has an average rating of “Hold” and an average target price of $3.54.

Hedge Funds Weigh In On Solo Brands

Several hedge funds have recently added to or reduced their stakes in DTC. Parkside Financial Bank & Trust acquired a new stake in shares of Solo Brands in the fourth quarter valued at approximately $25,000. Janney Montgomery Scott LLC lifted its position in shares of Solo Brands by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after acquiring an additional 10,722 shares in the last quarter. Balboa Wealth Partners acquired a new stake in shares of Solo Brands during the 4th quarter worth about $72,000. AXQ Capital LP acquired a new stake in Solo Brands during the third quarter worth approximately $67,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Solo Brands during the third quarter worth $71,000. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

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.