Brokers Issue Forecasts for Brilliant Earth Group, Inc.’s FY2023 Earnings (NASDAQ:BRLT)
Brilliant Earth Group, Inc. (NASDAQ:BRLT – Free Report) – Analysts at Telsey Advisory Group issued their FY2023 earnings per share (EPS) estimates for shares of Brilliant Earth Group in a report released on Monday, March 11th. Telsey Advisory Group analyst D. Telsey anticipates that the company will post earnings per share of $0.05 for the year. The consensus estimate for Brilliant Earth Group’s current full-year earnings is $0.02 per share. Telsey Advisory Group also issued estimates for Brilliant Earth Group’s Q4 2023 earnings at ($0.01) EPS and FY2024 earnings at $0.14 EPS.
Separately, TD Cowen cut Brilliant Earth Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $3.50 to $3.40 in a report on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.63.
Check Out Our Latest Analysis on BRLT
Brilliant Earth Group Stock Performance
NASDAQ:BRLT opened at $2.56 on Thursday. The business’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $2.99. Brilliant Earth Group has a twelve month low of $2.04 and a twelve month high of $4.61. The stock has a market cap of $248.55 million, a P/E ratio of 32.00 and a beta of 1.59. The company has a quick ratio of 2.24, a current ratio of 2.77 and a debt-to-equity ratio of 0.61.
Hedge Funds Weigh In On Brilliant Earth Group
Large investors have recently bought and sold shares of the stock. UBS Group AG increased its stake in Brilliant Earth Group by 6,047.0% in the 4th quarter. UBS Group AG now owns 6,147 shares of the company’s stock worth $26,000 after purchasing an additional 6,047 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Brilliant Earth Group in the 2nd quarter worth approximately $27,000. Acadian Asset Management LLC bought a new stake in shares of Brilliant Earth Group in the 1st quarter worth approximately $38,000. XTX Topco Ltd bought a new stake in shares of Brilliant Earth Group in the 1st quarter worth approximately $40,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter worth approximately $43,000. 38.71% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Brilliant Earth Group
In related news, Director Gavin Turner sold 9,191 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $3.52, for a total transaction of $32,352.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Brilliant Earth Group news, major shareholder Mainsail Gp Iii, Llc sold 24,221 shares of Brilliant Earth Group stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $3.50, for a total value of $84,773.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gavin Turner sold 9,191 shares of Brilliant Earth Group stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $3.52, for a total value of $32,352.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,024 shares of company stock valued at $245,721. Corporate insiders own 85.81% of the company’s stock.
About Brilliant Earth Group
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.
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