Aigen Investment Management LP Takes $1.27 Million Position in Monster Beverage Corporation $MNST

Key Points

• Aigen Investment Management opened a new position in Monster Beverage, buying 16,573 shares valued at about $1.27 million in the fourth quarter.
• Monster Beverage reported strong quarterly results, with EPS of $0.58 beating estimates and revenue of $2.32 billion, up 22.6% year over year.
• The company also announced a $500 million share repurchase program, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $89.35.

Aigen Investment Management LP bought a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,573 shares of the company's stock, valued at approximately $1,271,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Harbor Investment Advisory LLC lifted its position in Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company's stock worth $27,000 after buying an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock worth $28,000 after buying an additional 415 shares during the last quarter. Triumph Capital Management bought a new stake in Monster Beverage in the third quarter worth $36,000. Redmont Wealth Advisors LLC bought a new stake in Monster Beverage in the third quarter worth $42,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in Monster Beverage in the third quarter worth $45,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 0.9%

Shares of NASDAQ:MNST opened at $92.83 on Friday. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $93.08. The company has a market capitalization of $90.79 billion, a PE ratio of 44.85, a PEG ratio of 3.06 and a beta of 0.54. The business has a 50 day moving average of $82.16 and a two-hundred day moving average of $79.26.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The business had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The business's revenue was up 22.6% compared to the same quarter last year. Equities research analysts predict that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage announced that its board has initiated a share repurchase plan on Friday, May 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

MNST has been the subject of several research analyst reports. Stifel Nicolaus decreased their target price on Monster Beverage from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted their target price on Monster Beverage from $86.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Jefferies Financial Group set a $100.00 price target on Monster Beverage in a research note on Wednesday, March 11th. Finally, TD Cowen cut their price target on Monster Beverage from $88.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.35.

Insider Buying and Selling

In other news, insider Emelie Tirre sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.74, for a total transaction of $857,400.00. Following the completion of the transaction, the insider directly owned 71,763 shares in the company, valued at approximately $6,152,959.62. This represents a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the transaction, the director directly owned 299,246 shares in the company, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,700 shares of company stock valued at $15,457,562 in the last quarter. Corporate insiders own 8.10% of the company's stock.

About Monster Beverage

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.