Corebridge Financial Inc. Has $6.27 Million Position in Celsius Holdings Inc. $CELH

Key Points

• Corebridge Financial Inc. reduced its stake in Celsius Holdings Inc. by 2.4% in Q1, holding 176,000 shares worth approximately $6.27 million after selling 4,335 shares.
• Celsius reported a notable earnings performance with an EPS of $0.47 for the quarter, significantly exceeding the consensus estimate of $0.23, and registered a year-over-year revenue increase of 83.9% to $739.30 million.
• Numerous analysts have upgraded Celsius's stock ratings, with target prices set between $50.00 and $65.00, reflecting a consensus bullish sentiment on its future performance.

Corebridge Financial Inc. cut its stake in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,000 shares of the company's stock after selling 4,335 shares during the period. Corebridge Financial Inc. owned 0.07% of Celsius worth $6,269,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CELH. Alyeska Investment Group L.P. boosted its position in Celsius by 60.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock valued at $181,164,000 after purchasing an additional 2,591,345 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Celsius during the first quarter valued at approximately $36,511,000. Northwestern Mutual Wealth Management Co. boosted its position in Celsius by 163.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,093,103 shares of the company's stock valued at $38,936,000 after purchasing an additional 678,126 shares during the last quarter. Two Sigma Investments LP boosted its position in Celsius by 264.1% during the fourth quarter. Two Sigma Investments LP now owns 894,158 shares of the company's stock valued at $23,552,000 after purchasing an additional 648,582 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Celsius during the first quarter valued at approximately $17,223,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Celsius Price Performance

Celsius stock opened at $62.88 on Friday. Celsius Holdings Inc. has a 12 month low of $21.10 and a 12 month high of $63.50. The stock's 50 day moving average is $49.73 and its 200-day moving average is $39.70. The company has a current ratio of 2.11, a quick ratio of 1.76 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 169.95, a PEG ratio of 1.36 and a beta of 1.40.

Celsius (NASDAQ:CELH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.23 by $0.24. Celsius had a return on equity of 36.88% and a net margin of 7.91%.The company had revenue of $739.30 million for the quarter, compared to the consensus estimate of $632.13 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm's revenue for the quarter was up 83.9% on a year-over-year basis. Equities research analysts expect that Celsius Holdings Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CELH shares. Maxim Group increased their price target on Celsius from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Morgan Stanley boosted their price target on Celsius from $42.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Truist Financial boosted their price target on Celsius from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. B. Riley reissued a "buy" rating and set a $56.00 price target (up previously from $52.00) on shares of Celsius in a research report on Friday, August 8th. Finally, Piper Sandler boosted their price target on Celsius from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.28.

Insider Transactions at Celsius

In other news, major shareholder William H. Milmoe sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $47.27, for a total value of $14,181,000.00. Following the transaction, the insider owned 18,017,770 shares of the company's stock, valued at approximately $851,699,987.90. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Deborah Desantis sold 100,000 shares of Celsius stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $47.50, for a total transaction of $4,750,000.00. Following the completion of the sale, the insider owned 17,717,770 shares of the company's stock, valued at approximately $841,594,075. The trade was a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,116,141 shares of company stock worth $52,541,605 over the last three months. Company insiders own 2.55% of the company's stock.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.

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