Shares of Solo Brands, Inc. (NYSE:DTC – Get Free Report) have been given an average recommendation of “Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.75.
Separately, Craig Hallum initiated coverage on Solo Brands in a report on Monday, September 25th. They issued a “buy” rating and a $8.00 price objective for the company.
Solo Brands Stock Performance
Insiders Place Their Bets
In other Solo Brands news, CFO Somer Webb sold 115,537 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $4.35, for a total value of $502,585.95. Following the completion of the sale, the chief financial officer now directly owns 58,793 shares in the company, valued at $255,749.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.93% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Solo Brands
A number of institutional investors and hedge funds have recently modified their holdings of DTC. RK Capital Management LLC acquired a new stake in shares of Solo Brands during the 2nd quarter valued at $5,901,000. Marshall Wace LLP lifted its position in shares of Solo Brands by 216.9% during the 2nd quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock valued at $7,395,000 after acquiring an additional 894,268 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Solo Brands during the 2nd quarter valued at $3,962,000. First Dallas Securities Inc. acquired a new stake in shares of Solo Brands during the 3rd quarter valued at $3,018,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Solo Brands by 227.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 750,235 shares of the company’s stock valued at $3,827,000 after acquiring an additional 521,369 shares during the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.
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.
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