DTC - Solo Brands stock boosted by peer's earnings beat insider buying

2023-03-17 12:00:09 ET

Solo Brands ( NYSE: DTC ) stock surged nearly 10% on Friday after a stronger than expected report from a key peer and share purchases by board members.

Traeger was able to exceed analyst estimates on top and bottom lines on Thursday evening, adding that demand remains relatively stable ahead of an expected inventory normalization. The strong results from the grill-maker were significant for Solo Brands ( DTC ) as analysts had selected it as a preferable option to Traeger ahead of those results, bolstering confidence in its prospects as well.

Additionally, SEC Form 4 disclosures filed on Friday indicated that board director and Deckers Brands CEO Dave Powers purchased 15,500 shares on Wednesday.

Shares of Solo Brands ( DTC ) drove 8.07% higher in midday trading, paring back some early gains. Trading volume trended to nearly 410K by noon ET on Thursday, already well exceeding the daily average of about 341K.

Dig into more filings on changes in ownership stakes .

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