GAMMA Investing LLC Increases Stake in Monster Beverage Co. (NASDAQ:MNST)

GAMMA Investing LLC increased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 20.1% in the first quarter, Holdings Channel.com reports. The firm owned 10,261 shares of the company’s stock after acquiring an additional 1,716 shares during the period. GAMMA Investing LLC’s holdings in Monster Beverage were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in Monster Beverage by 59.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock valued at $7,609,000 after buying an additional 49,495 shares during the last quarter. Alaethes Wealth LLC bought a new position in Monster Beverage in the 4th quarter worth $1,528,000. Louisiana State Employees Retirement System bought a new position in Monster Beverage in the 4th quarter worth $7,340,000. Defender Capital LLC. raised its holdings in Monster Beverage by 30.2% in the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after purchasing an additional 86,050 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Monster Beverage in the 4th quarter worth about $517,035,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MNST shares. Redburn Atlantic started coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating for the company. HSBC dropped their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Piper Sandler raised their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their price target for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Finally, Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.79.

Monster Beverage Stock Performance

MNST stock opened at $48.42 on Thursday. The firm has a market cap of $50.44 billion, a PE ratio of 30.45, a P/E/G ratio of 1.92 and a beta of 0.76. The firm’s fifty day moving average is $52.87 and its 200 day moving average is $55.53. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Research analysts predict that Monster Beverage Co. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,221 shares of company stock valued at $16,070,374. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.