Kennedy Capital Management LLC Sells 8,522 Shares of Solo Brands, Inc. (NYSE:DTC)

Kennedy Capital Management LLC lessened its stake in shares of Solo Brands, Inc. (NYSE:DTC) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 599,661 shares of the company’s stock after selling 8,522 shares during the quarter. Kennedy Capital Management LLC owned about 0.66% of Solo Brands worth $1,301,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Boston Partners acquired a new position in shares of Solo Brands during the 4th quarter worth about $13,159,000. Hillsdale Investment Management Inc. raised its holdings in Solo Brands by 18.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 867,941 shares of the company’s stock valued at $5,347,000 after acquiring an additional 133,600 shares in the last quarter. Sei Investments Co. raised its holdings in Solo Brands by 20.6% in the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after acquiring an additional 99,262 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Solo Brands in the 1st quarter valued at approximately $1,059,000. Finally, Empowered Funds LLC raised its holdings in Solo Brands by 8.2% in the 1st quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock valued at $768,000 after acquiring an additional 26,765 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Insider Activity

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

Solo Brands Trading Down 1.0 %

Solo Brands stock opened at $2.40 on Thursday. The business has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $2.27. The company has a quick ratio of 1.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.45. The stock has a market cap of $218.59 million, a price-to-earnings ratio of -1.19 and a beta of 2.62. Solo Brands, Inc. has a 12 month low of $1.74 and a 12 month high of $6.67.

Solo Brands (NYSE:DTC) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.01 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 analysts’ expectations of $80.48 million. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, equities analysts forecast that Solo Brands, Inc. will post 0.35 EPS 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.