Strs Ohio Decreases Position in Solo Brands, Inc. (NYSE:DTC)

Strs Ohio decreased its holdings in shares of Solo Brands, Inc. (NYSE:DTC) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,300 shares of the company’s stock after selling 5,400 shares during the quarter. Strs Ohio owned approximately 0.11% of Solo Brands worth $599,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DTC. First Dallas Securities Inc. purchased a new stake in Solo Brands during the third quarter worth approximately $3,018,000. American Century Companies Inc. lifted its stake in Solo Brands by 14.9% during the third quarter. American Century Companies Inc. now owns 4,147,618 shares of the company’s stock worth $21,153,000 after purchasing an additional 538,995 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Solo Brands in the third quarter valued at approximately $2,653,000. Millrace Asset Group Inc. purchased a new stake in Solo Brands in the third quarter valued at approximately $1,819,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in Solo Brands by 1,118.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 144,709 shares of the company’s stock valued at $738,000 after buying an additional 132,835 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Insider Activity

In other Solo Brands news, CEO Christopher T. Metz acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $2.27 per share, with a total value of $227,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $227,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.93% of the company’s stock.

Analyst Upgrades and Downgrades

DTC has been the subject of a number of research reports. B. Riley reiterated a “neutral” rating and issued a $2.20 price objective (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Craig Hallum cut Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a research note on Monday, January 8th. JPMorgan Chase & Co. cut Solo Brands from an “overweight” rating to an “underweight” rating in a research note on Friday, February 2nd. William Blair cut Solo Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, Jefferies Financial Group reduced their price objective on Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Solo Brands has a consensus rating of “Hold” and a consensus price target of $3.54.

Solo Brands Trading Up 0.3 %

NYSE:DTC opened at $1.89 on Friday. The firm has a market cap of $171.87 million, a P/E ratio of -0.97, a PEG ratio of 0.68 and a beta of 2.61. The company has a current ratio of 2.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $2.21 and its 200-day simple moving average is $3.59. Solo Brands, Inc. has a 12-month low of $1.74 and a 12-month high of $8.86.

Solo Brands (NYSE:DTC) last released its earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $165.32 million for the quarter, compared to analyst estimates of $166.15 million. Solo Brands had a positive return on equity of 7.33% and a negative net margin of 22.50%. Equities analysts anticipate that Solo Brands, Inc. will post 0.25 EPS for the current year.

Solo Brands Company 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.