Solo Brands (NYSE:DTC) Stock Price Up 9.6% After Insider Buying Activity

Solo Brands, Inc. (NYSE:DTC – Get Rating) rose 9.6% on Friday following insider buying activity. The stock traded as high as $6.57 and last traded at $6.52. Approximately 138,778 shares changed hands during trading, a decline of 62% from the average daily volume of 366,670 shares. The stock had previously closed at $5.95.

Specifically, Director David Powers acquired 15,500 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were bought at an average price of $6.49 per share, for a total transaction of $100,595.00. Following the acquisition, the director now owns 15,500 shares of the company’s stock, valued at approximately $100,595. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DTC has been the topic of several analyst reports. Piper Sandler lifted their price target on Solo Brands from $7.00 to $9.00 in a report on Friday, March 10th. Credit Suisse Group boosted their price objective on shares of Solo Brands from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 10th.

Solo Brands Stock Performance

The company has a market capitalization of $610.57 million, a price-to-earnings ratio of -91.14, a P/E/G ratio of 0.49 and a beta of 1.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 2.91. The firm has a 50-day simple moving average of $4.47 and a two-hundred day simple moving average of $4.25.

Institutional Trading of Solo Brands

A number of large investors have recently made changes to their positions in DTC. Quantbot Technologies LP acquired a new position in Solo Brands in the first quarter valued at approximately $56,000. UBS Group AG boosted its holdings in shares of Solo Brands by 9,253.0% in the fourth quarter. UBS Group AG now owns 9,353 shares of the company’s stock valued at $35,000 after acquiring an additional 9,253 shares during the period. Zacks Investment Management purchased a new stake in shares of Solo Brands during the third quarter worth approximately $39,000. American International Group Inc. raised its stake in shares of Solo Brands by 38.4% during the second quarter. American International Group Inc. now owns 10,287 shares of the company’s stock worth $42,000 after purchasing an additional 2,852 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Solo Brands during the second quarter worth approximately $46,000. 78.25% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Company Profile

(Get Rating)

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor 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; grills, cook tops, and tools; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.