The Vanguard Group, Inc. recently announced the acquisition of new stake in Brilliant Earth Group Inc. (NASDAQ:BRLT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.44% to 0.98 million shares with purchase of 41562.0 shares. This fresh investment now brings its stake to 8.93% valued currently at $4.21 million. In addition, Capital Research & Management Co raised its holdings by 6800.0 to 0.87 million shares. And Columbia Management Investment Ad has lifted its position by 458.62% or 0.67 million shares – to 0.82 million shares.
With over 0.16 million Brilliant Earth Group Inc. (BRLT) shares trading Monday and a closing price of $4.73 on the day, the dollar volume was approximately $0.74 million. The shares have shown a negative half year performance of -20.90% and its price on 01/23/23 gained nearly 4.65%. Currently, there are 96.58M common shares owned by the public and among those 10.74M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for BRLT have a consensus price objective of $10.06. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $6.00. The average price target is 55.55% above its recent price level and an upside to the estimated low will see the stock gain 21.17% over that period. But an upside of 70.44% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 411,990 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 261,657 shares.
The top 3 mutual fund holders in Brilliant Earth Group Inc. are GAM Multistock – Luxury Brands Eq, American Funds Small Cap World Fu, and Columbia Small Cap Value Fund I. GAM Multistock – Luxury Brands Eq owns 1.01 million shares of the company’s stock, all valued at over $4.36 million. Columbia Small Cap Value Fund I bought 5757.0 shares to bring its total holdings to over 0.42 million shares at a value of $1.82 million. Columbia Small Cap Value Fund I now owns shares totaling to 3.85% of the shares outstanding.
Shares of Brilliant Earth Group Inc. (NASDAQ: BRLT) opened at $4.74, up $0.22 from a prior closing price of $4.52. However, the script later moved the day high at 4.7400, up 4.65%. The company’s stock has a 5-day price change of 3.96% and -41.46% over the past three months. BRLT shares are trading 9.74% year to date (YTD), with the 12-month market performance down to -60.65% lower. It has a 12-month low price of $3.60 and touched a high of $13.49 over the same period. BRLT has an average intraday trading volume of 153.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.09%, -3.50%, and -22.32% respectively.
Institutional ownership of Brilliant Earth Group Inc. (NASDAQ: BRLT) shares accounts for 61.20% of the company’s 96.58M shares outstanding. Mutual fund holders own 22.96%, while other institutional holders and individual stakeholders account for 35.90% and 2.65% respectively.
It has a market capitalization of $428.73M. The stock’s trailing 12-month PE ratio is 157.67, while the earnings-per-share (ttm) stands at $0.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.56% over the week and 6.25% over the month.
Analysts forecast that Brilliant Earth Group Inc. (BRLT) will achieve an EPS of $0.05 for the current quarter, $0.08 for the next quarter and $0.42 for 2023. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -92.90%, and 40.18% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Brilliant Earth Group Inc. (BRLT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BRLT, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on October 18, 2021, with the firm’s price target at $16. KeyBanc Capital Markets coverage for the Brilliant Earth Group Inc. (BRLT) stock in a research note released on October 18, 2021 offered a Overweight rating with a price target of $16. JP Morgan was of a view on October 18, 2021 that the stock is Overweight, while Jefferies gave the stock Buy rating on October 18, 2021, issuing a price target of $18. Credit Suisse on their part issued Outperform rating on October 18, 2021.
