Celsius Holdings Inc. $CELH Shares Bought by Bank of America Corp DE

Key Points

• Institutional investors increased their Celsius holdings: Bank of America boosted its position by 29.2% to 656,684 shares, while other funds initiated or expanded positions. Institutions and hedge funds now own approximately 60.95% of CELH.
• Company insiders were net buyers: CEO John Fieldly and Director Damon DeSantis purchased shares, contributing to 66,000 insider shares bought worth approximately $1.83 million over the past three months.
• Analyst sentiment remains cautiously positive: Celsius has a “Moderate Buy” consensus rating and an average price target of $43.38, despite recent target cuts and the company missing quarterly revenue and EPS expectations.

Bank of America Corp DE boosted its holdings in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 29.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 656,684 shares of the company's stock after purchasing an additional 148,432 shares during the quarter. Bank of America Corp DE owned approximately 0.26% of Celsius worth $19,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ancora Advisors LLC acquired a new stake in Celsius in the 2nd quarter valued at $64,000. Ranger Investment Management L.P. acquired a new position in Celsius during the second quarter worth $13,629,000. Knuff & Co LLC acquired a new position in Celsius during the second quarter worth $4,846,000. Bank of New York Mellon Corp purchased a new position in Celsius during the second quarter valued at $43,040,000. Finally, Handelsbanken Fonder AB lifted its holdings in Celsius by 18.2% during the second quarter. Handelsbanken Fonder AB now owns 63,000 shares of the company's stock valued at $1,845,000 after purchasing an additional 9,700 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Celsius

In related news, CEO John Fieldly purchased 18,000 shares of Celsius stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $27.44 per share, for a total transaction of $493,920.00. Following the acquisition, the chief executive officer directly owned 956,063 shares in the company, valued at approximately $26,234,368.72. The trade was a 1.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Damon DeSantis purchased 16,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average cost of $27.95 per share, for a total transaction of $447,200.00. Following the transaction, the director owned 2,728,187 shares in the company, valued at approximately $76,252,826.65. The trade was a 0.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 66,000 shares of company stock worth $1,830,120 in the last three months. 2.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CELH. JPMorgan Chase & Co. cut their target price on shares of Celsius from $56.00 to $52.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Wall Street Zen raised shares of Celsius from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Maxim Group cut Celsius from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Stifel Nicolaus set a $37.00 price objective on Celsius in a research note on Friday, August 7th. Finally, Morgan Stanley set a $42.00 target price on Celsius and gave the company an "overweight" rating in a report on Friday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.38.

Celsius Stock Performance

CELH opened at $28.43 on Friday. Celsius Holdings Inc. has a twelve month low of $23.56 and a twelve month high of $66.74. The firm has a market capitalization of $7.19 billion, a PE ratio of 118.46, a PEG ratio of 2.06 and a beta of 0.93. The company has a current ratio of 1.80, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average price is $29.54 and its 200 day moving average price is $31.84.

Celsius (NASDAQ:CELH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Celsius had a net margin of 4.24% and a return on equity of 36.52%. The business had revenue of $817.93 million during the quarter, compared to analyst estimates of $870.08 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Celsius Holdings Inc. will post 1.43 EPS for the current fiscal year.

Celsius Company Profile

Celsius Holdings, Inc develops, markets and distributes functional, better-for-you beverages under the CELSIUS brand. Its products are positioned as energy drinks designed to support active lifestyles and are marketed with claims related to fitness, metabolism and sustained energy. The company offers a range of carbonated and noncarbonated beverages in various flavors and formulations, including CELSIUS Originals, CELSIUS Vibe and CELSIUS Essentials, as well as powdered drink mixes and other related products.

The company sells its beverages through a broad network of retail and e-commerce channels, including convenience stores, grocery stores, drugstores, warehouse clubs, gyms and other specialty outlets.

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