Celsius Holdings Inc. $CELH Stock Sold by Sullivan Wood Capital Management LLC

Key Points

• Sullivan Wood Capital Management cut its Celsius Holdings stake by 62.1% in the third quarter, selling 45,880 shares and retaining 28,040 shares valued at approximately $767,000.
• Despite the institutional sale, other investors increased their positions, while insiders purchased 66,000 shares worth about $1.83 million over the past three months. Institutional investors own 60.95% of Celsius, compared with 2.33% held by insiders.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $42.12 price target, although Celsius recently missed quarterly EPS and revenue estimates. The stock traded near $27.94, well below its 52-week high of $66.74.

Sullivan Wood Capital Management LLC trimmed its position in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 62.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,040 shares of the company's stock after selling 45,880 shares during the period. Celsius makes up 1.1% of Sullivan Wood Capital Management LLC's portfolio, making the stock its 18th biggest position. Sullivan Wood Capital Management LLC's holdings in Celsius were worth $767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Celsius by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,870 shares of the company's stock valued at $133,000 after buying an additional 2,243 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Celsius by 21.4% during the third quarter. Farther Finance Advisors LLC now owns 4,410 shares of the company's stock worth $121,000 after acquiring an additional 778 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Celsius by 50.2% in the third quarter. Moody National Bank Trust Division now owns 23,492 shares of the company's stock worth $643,000 after acquiring an additional 7,847 shares in the last quarter. State Street Corp lifted its stake in shares of Celsius by 4.5% in the second quarter. State Street Corp now owns 5,253,654 shares of the company's stock worth $153,861,000 after acquiring an additional 227,418 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Celsius by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 126,289 shares of the company's stock worth $3,698,000 after acquiring an additional 7,010 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

Insider Buying and Selling at Celsius

In other news, Director Hal Kravitz purchased 12,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $28.00 per share, for a total transaction of $336,000.00. Following the completion of the purchase, the director owned 239,158 shares of the company's stock, valued at $6,696,424. This trade represents a 5.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Damon DeSantis acquired 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $27.95 per share, with a total value of $447,200.00. Following the completion of the acquisition, the director directly owned 2,728,187 shares in the company, valued at approximately $76,252,826.65. This represents a 0.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 66,000 shares of company stock worth $1,830,120. 2.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CELH. TD Cowen lowered their price objective on Celsius from $41.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $42.00 target price on shares of Celsius in a research report on Tuesday, October 6th. Needham & Company LLC reduced their target price on Celsius from $55.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Stifel Nicolaus set a $37.00 price target on shares of Celsius in a research note on Friday, August 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $36.00 price target on shares of Celsius in a report on Monday, August 24th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.12.

Celsius Stock Performance

CELH stock traded down $0.45 during trading on Tuesday, hitting $27.94. 1,578,605 shares of the company's stock traded hands, compared to its average volume of 7,883,890. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 116.54, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. Celsius Holdings Inc. has a 52 week low of $23.56 and a 52 week high of $66.74. The stock has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $30.56. The company has a quick ratio of 1.42, a current ratio of 1.80 and a debt-to-equity ratio of 0.56.

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

Celsius Profile

Celsius Holdings, Inc develops, markets and distributes functional beverages designed to support active lifestyles. Its flagship CELSIUS brand offers carbonated and non-carbonated energy drinks, including CELSIUS Vibe and CELSIUS Essentials product lines. The beverages are positioned as better-for-you alternatives to traditional energy drinks and are available in a variety of flavors and package formats.

The company sells its products through grocery stores, convenience stores, club retailers, drugstores, gyms, e-commerce platforms and other retail channels.

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