Atria Wealth Solutions Inc. Lowers Position in Monster Beverage Corporation $MNST

Key Points

• Atria Wealth Solutions Inc. reduced its position in Monster Beverage Corporation by 43.9%, selling 5,481 shares and holding 7,008 shares valued at approximately $439,000.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, surpassing the consensus estimate of $0.48, with revenues of $2.11 billion showing an 11.1% year-over-year increase.
• Several hedge funds have recently adjusted their holdings in Monster Beverage, with institutional investors currently owning 72.36% of the stock, indicating strong interest among large investors.

Atria Wealth Solutions Inc. lessened its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 43.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,008 shares of the company's stock after selling 5,481 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Monster Beverage were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Monster Beverage by 2.2% during the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock valued at $1,254,000 after buying an additional 460 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Monster Beverage by 28.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock valued at $2,136,000 after buying an additional 8,155 shares during the last quarter. Blue Trust Inc. raised its stake in Monster Beverage by 8.4% during the first quarter. Blue Trust Inc. now owns 3,086 shares of the company's stock valued at $181,000 after buying an additional 239 shares during the last quarter. Advisor Resource Council purchased a new position in Monster Beverage during the first quarter valued at $460,000. Finally, Heartland Bank & Trust Co raised its stake in Monster Beverage by 18.7% during the first quarter. Heartland Bank & Trust Co now owns 10,296 shares of the company's stock valued at $603,000 after buying an additional 1,625 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Stock Up 0.1%

Monster Beverage stock opened at $70.22 on Monday. The business has a 50-day simple moving average of $65.12 and a two-hundred day simple moving average of $62.36. The company has a market cap of $68.56 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.44 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.65.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MNST. Weiss Ratings reiterated a "buy (b-)" rating on shares of Monster Beverage in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price target on Monster Beverage from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Roth Capital restated a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and an average price target of $66.05.

About Monster Beverage

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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