Brilliant Earth Group (NASDAQ:BRLT) Stock Rating Reaffirmed by Telsey Advisory Group

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They presently have a $4.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 35.14% from the stock’s previous close. Telsey Advisory Group also issued estimates for Brilliant Earth Group’s Q4 2023 earnings at ($0.01) EPS, FY2023 earnings at $0.05 EPS and FY2024 earnings at $0.14 EPS.

Separately, TD Cowen decreased their target price on Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating for the company in a research report on Friday.

Brilliant Earth Group Stock Performance

Shares of NASDAQ:BRLT traded up $0.33 during mid-day trading on Friday, reaching $2.96. The company had a trading volume of 116,141 shares, compared to its average volume of 48,978. Brilliant Earth Group has a one year low of $2.04 and a one year high of $4.29. The company has a current ratio of 2.77, a quick ratio of 2.24 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $3.02 and its 200-day moving average price is $2.97. The firm has a market cap of $287.39 million, a price-to-earnings ratio of 59.21 and a beta of 1.59.

Insider Activity

In related news, major shareholder Mainsail Gp Iii, Llc sold 15,133 shares of Brilliant Earth Group stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $3.51, for a total transaction of $53,116.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Brilliant Earth Group news, Director Gavin Turner sold 9,191 shares of Brilliant Earth Group 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mainsail Gp Iii, Llc sold 15,133 shares of Brilliant Earth Group stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $3.51, for a total value of $53,116.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,024 shares of company stock worth $245,721. 85.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brilliant Earth Group

A number of hedge funds and other institutional investors have recently modified their holdings of BRLT. Mainsail Management Company LLC bought a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at about $94,299,000. Bank of Montreal Can purchased a new position in Brilliant Earth Group during the 1st quarter valued at about $1,230,000. Ameriprise Financial Inc. increased its holdings in Brilliant Earth Group by 12.2% during the 1st quarter. Ameriprise Financial Inc. now owns 893,113 shares of the company’s stock valued at $3,492,000 after purchasing an additional 97,134 shares during the period. Capital World Investors increased its holdings in Brilliant Earth Group by 7.3% during the 2nd quarter. Capital World Investors now owns 929,849 shares of the company’s stock valued at $3,608,000 after purchasing an additional 63,049 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Brilliant Earth Group during the 2nd quarter valued at about $231,000. Institutional investors own 38.71% 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.