American Century Investment Manag recently announced the acquisition of new stake in Solo Brands Inc (NYSE:DTC). The institutional investor has increased its shareholding in the Consumer Cyclical company by 14.94% to 4.15 million shares with purchase of 0.54 million shares. This fresh investment now brings its stake to 7.17% valued currently at $21.61 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.25 million to 1.71 million shares. And BlackRock Fund Advisors has lifted its position by 4.54% or 53076.0 shares – to 1.22 million shares.
With over 8.31 million Solo Brands Inc (DTC) shares trading Monday and a closing price of $3.60 on the day, the dollar volume was approximately $29.93 million. The shares have shown a negative half year performance of -34.66% and its price on 01/08/24 lost nearly -38.98%. Currently, there are 63.65M common shares owned by the public and among those 26.39M shares have been available to trade.
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Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 268,665 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 17,049,536 shares.
The top 3 mutual fund holders in Solo Brands Inc are American Century Small Cap Value, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. American Century Small Cap Value owns 3.4 million shares of the company’s stock, all valued at over $17.69 million. The company bought an additional 0.44 million shares recently to bring their total holdings to about 5.87% of the shares outstanding. iShares Russell 2000 ETF bought 270.0 shares to bring its total holdings to over 0.55 million shares at a value of $2.85 million. iShares Russell 2000 ETF now owns shares totaling to 0.95% of the shares outstanding.
Shares of Solo Brands Inc (NYSE: DTC) opened at $3.83, down -$2.07 from a prior closing price of $5.90. The company’s stock has a 5-day price change of -41.56% and -25.47% over the past three months. DTC shares are trading -41.56% year to date (YTD), with the 12-month market performance down to -7.93% lower. It has a 12-month low price of $3.68 and touched a high of $8.86 over the same period. DTC has an average intraday trading volume of 557.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -36.38%, -28.90%, and -35.33% respectively.
Institutional ownership of Solo Brands Inc (NYSE: DTC) shares accounts for 41.48% of the company’s 63.65M shares outstanding. Mutual fund holders own 18.13%, while other institutional holders and individual stakeholders account for 23.50% and 0.82% respectively.
It has a market capitalization of $207.90M and a beta (3y monthly) value of 2.85. The stock’s trailing 12-month PE ratio is 9.50, while the earnings-per-share (ttm) stands at $0.38. The company has a PEG of 0.82 and a Quick Ratio of 1.13 with the debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.82% over the week and 5.50% over the month.
Analysts forecast that Solo Brands Inc (DTC) will achieve an EPS of $0.38 for the current quarter, $0.15 for the next quarter and $1.05 for 2024. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to decrease by -19.73%, and -7.27% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Solo Brands Inc (DTC) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
