Monster Beverage Corporation $MNST Shares Acquired by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC increased its holdings in Monster Beverage Corporation by 35.3% in Q2, owning a total of 22,146 shares valued at approximately $1.39 million.
• Several analysts have recently adjusted their price targets for Monster Beverage, with the consensus target now at $65.19 amid mixed ratings from twelve analysts.
• Director Mark Vidergauz sold 10,000 shares of Monster stock, reducing his ownership by 16.34%, reflecting ongoing insider trading activity.

Avior Wealth Management LLC boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 35.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,146 shares of the company's stock after purchasing an additional 5,781 shares during the period. Avior Wealth Management LLC's holdings in Monster Beverage were worth $1,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MNST. Wayfinding Financial LLC purchased a new stake in shares of Monster Beverage during the first quarter worth about $29,000. Webster Bank N. A. purchased a new stake in Monster Beverage during the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Monster Beverage during the 1st quarter valued at approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Monster Beverage by 21.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a report on Wednesday, July 9th. UBS Group boosted their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Finally, Bank of America upped their price objective on Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Twelve 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.19.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was 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 in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Stock Up 1.2%

MNST opened at $65.34 on Monday. The company's 50-day moving average price is $62.72 and its 200 day moving average price is $61.25. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $67.13. The firm has a market cap of $63.80 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 2.27 and a beta of 0.54.

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

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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