Tower Research Capital LLC TRC Reduces Holdings in Brilliant Earth Group, Inc. (NASDAQ:BRLT)

Tower Research Capital LLC TRC decreased its stake in shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) by 63.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,924 shares of the company’s stock after selling 22,515 shares during the period. Tower Research Capital LLC TRC’s holdings in Brilliant Earth Group were worth $48,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avestar Capital LLC lifted its holdings in Brilliant Earth Group by 25.0% during the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after purchasing an additional 5,000 shares in the last quarter. Federated Hermes Inc. grew its position in Brilliant Earth Group by 7.1% during the 3rd quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after acquiring an additional 7,920 shares during the last quarter. Finally, Mainsail Management Company LLC bought a new position in Brilliant Earth Group during the 3rd quarter worth approximately $94,299,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $4.00 price target on shares of Brilliant Earth Group in a research report on Friday, March 15th. TD Cowen dropped their price objective on Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating for the company in a report on Friday, March 15th. Finally, KeyCorp dropped their price objective on Brilliant Earth Group from $6.00 to $3.00 and set an “overweight” rating for the company in a report on Monday.

Brilliant Earth Group Stock Down 4.5 %

Shares of BRLT traded down $0.12 on Tuesday, reaching $2.55. The stock had a trading volume of 68,470 shares, compared to its average volume of 43,848. The firm has a market capitalization of $249.54 million, a price-to-earnings ratio of 51.01 and a beta of 1.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.17 and a current ratio of 2.66. The company has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $2.94. Brilliant Earth Group, Inc. has a 12-month low of $2.04 and a 12-month high of $4.29.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, March 14th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $124.30 million during the quarter, compared to analysts’ expectations of $125.10 million. Brilliant Earth Group had a return on equity of 7.19% and a net margin of 0.51%. Sell-side analysts predict that Brilliant Earth Group, Inc. will post 0.01 EPS for the current year.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.