GSA Capital Partners LLP Takes Position in Solo Brands, Inc. (NYSE:DTC)

GSA Capital Partners LLP acquired a new stake in Solo Brands, Inc. (NYSE:DTC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 488,155 shares of the company’s stock, valued at approximately $1,059,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in Solo Brands during the fourth quarter worth $25,000. Balboa Wealth Partners bought a new position in Solo Brands during the fourth quarter worth $72,000. Gladstone Institutional Advisory LLC bought a new position in Solo Brands during the fourth quarter worth $97,000. Tower Research Capital LLC TRC boosted its stake in Solo Brands by 345.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,259 shares of the company’s stock worth $112,000 after acquiring an additional 14,163 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Solo Brands during the fourth quarter worth $113,000. 84.48% of the stock is owned by institutional investors.

Solo Brands Price Performance

Shares of DTC stock traded down $0.01 during trading hours on Wednesday, reaching $2.10. The stock had a trading volume of 33,597 shares, compared to its average volume of 706,493. The stock’s fifty day simple moving average is $2.02 and its 200 day simple moving average is $2.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16. Solo Brands, Inc. has a 12 month low of $1.74 and a 12 month high of $6.67.

Solo Brands (NYSE:DTC) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. The company had revenue of $85.32 million during the quarter, compared to analyst estimates of $80.48 million. During the same period last year, the business earned $0.09 earnings per share. As a group, analysts expect that Solo Brands, Inc. will post 0.33 EPS for the current year.

Insider Buying and Selling at Solo Brands

In related news, CEO Christopher T. Metz bought 52,366 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the transaction, the chief executive officer now directly owns 152,366 shares in the company, valued at approximately $295,590.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Solo Brands news, CEO Christopher T. Metz acquired 49,310 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $1.97 per share, for a total transaction of $97,140.70. Following the acquisition, the chief executive officer now owns 250,000 shares in the company, valued at approximately $492,500. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Metz bought 52,366 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the purchase, the chief executive officer now owns 152,366 shares of the company’s stock, valued at $295,590.04. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DTC has been the topic of a number of recent research reports. 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 restated a “neutral” rating and set a $2.20 price objective (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Jefferies Financial Group decreased their price objective on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a report on Friday, March 15th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $3.00 target price (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.54.

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.