4,584 Shares in Monster Beverage Corporation $MNST Acquired by Longboard Asset Management LP

Key Points

• Longboard Asset Management LP purchased 4,584 shares of Monster Beverage Corporation, valued at approximately $287,000, marking its 22nd largest position in the portfolio.
• Following a recent quarterly earnings announcement, Monster Beverage reported an EPS of $0.52, which surpassed analysts' expectations of $0.48, with revenue increasing 11.1% year-over-year.
• A substantial 72.36% of Monster Beverage's stock is owned by institutional investors and hedge funds, indicating strong professional interest in the company.

Longboard Asset Management LP purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,584 shares of the company's stock, valued at approximately $287,000. Monster Beverage comprises approximately 0.7% of Longboard Asset Management LP's portfolio, making the stock its 22nd biggest position.

Several other institutional investors also recently modified their holdings of MNST. Wayfinding Financial LLC acquired a new position in Monster Beverage during the first quarter valued at $29,000. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage in the fourth quarter worth $36,000. Webster Bank N. A. acquired a new position in shares of Monster Beverage in the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after acquiring an additional 196 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Monster Beverage in the first quarter worth $43,000. Institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Roth Capital reiterated a "neutral" rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Citigroup upped their price objective on shares of Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday. Redburn Atlantic cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $65.19.

Monster Beverage Price Performance

Shares of NASDAQ:MNST traded down $0.51 during midday trading on Friday, reaching $64.13. The company's stock had a trading volume of 13,012,741 shares, compared to its average volume of 4,705,793. The business's fifty day simple moving average is $62.16 and its 200-day simple moving average is $60.84. The company has a market capitalization of $62.62 billion, a P/E ratio of 39.83, a P/E/G ratio of 2.23 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $67.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Monster Beverage Company Profile

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.