89,000 Shares in Monster Beverage Corporation $MNST Acquired by Algert Global LLC

Key Points

• Algert Global LLC has acquired 89,000 shares of Monster Beverage Corporation (NASDAQ:MNST), valued at approximately $5.2 million, indicating strong institutional interest in the company.
• Monster Beverage's CFO, Thomas J. Kelly, recently sold 27,000 shares, a transaction reflecting a 28.05% decrease in his stock ownership, while company insiders overall own 8.30% of the stock.
• The company reported $0.52 earnings per share for the most recent quarter, surpassing analysts' expectations and demonstrating an 11.1% year-over-year revenue growth.

Algert Global LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 89,000 shares of the company's stock, valued at approximately $5,208,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Monster Beverage during the first quarter valued at $29,000. Coppell Advisory Solutions LLC raised its stake in shares of Monster Beverage by 259.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after buying an additional 495 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Monster Beverage during the first quarter worth about $43,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.30% of the company's stock.

Monster Beverage Trading Down 0.8%

NASDAQ:MNST opened at $64.12 on Tuesday. The company has a market cap of $62.61 billion, a P/E ratio of 39.83, a P/E/G ratio of 2.11 and a beta of 0.55. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The company's 50-day moving average price is $61.63 and its 200-day moving average price is $58.76.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business's revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MNST shares. Stifel Nicolaus began coverage on Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. TD Cowen boosted their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Bank of America raised their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Citigroup increased their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $65.10.

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.

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