Pinnacle Associates Ltd. Purchases 9,065 Shares of Celsius Holdings Inc. (NASDAQ:CELH)

Key Points

• Pinnacle Associates Ltd. increased its stake in Celsius Holdings by 48.5%, acquiring an additional 9,065 shares in the first quarter, bringing its total holdings to 27,740 shares valued at approximately $988,000.
• Several hedge funds, including Champlain Investment Partners and FMR LLC, have made significant investments in Celsius, with institutional investors now owning over 60.95% of the company’s stock.
• Celsius recently posted $0.18 earnings per share, missing analysts' estimates, and reported a 7.4% year-over-year revenue decline, prompting a mix of buy and hold ratings from analysts.

Pinnacle Associates Ltd. grew its holdings in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 48.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,740 shares of the company's stock after acquiring an additional 9,065 shares during the period. Pinnacle Associates Ltd.'s holdings in Celsius were worth $988,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CELH. Champlain Investment Partners LLC bought a new stake in Celsius in the fourth quarter worth approximately $85,068,000. Norges Bank acquired a new stake in shares of Celsius during the 4th quarter worth approximately $72,579,000. Alyeska Investment Group L.P. increased its stake in shares of Celsius by 60.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock valued at $181,164,000 after acquiring an additional 2,591,345 shares in the last quarter. FMR LLC lifted its position in shares of Celsius by 64.2% during the 4th quarter. FMR LLC now owns 4,055,148 shares of the company's stock valued at $106,813,000 after acquiring an additional 1,585,839 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Celsius by 11.2% during the 4th quarter. Alliancebernstein L.P. now owns 14,292,123 shares of the company's stock valued at $376,455,000 after acquiring an additional 1,444,020 shares during the period. 60.95% of the stock is owned by institutional investors.

Insider Activity at Celsius

In other news, major shareholder William H. Milmoe sold 300,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $47.27, for a total transaction of $14,181,000.00. Following the completion of the sale, the insider directly owned 18,017,770 shares of the company's stock, valued at $851,699,987.90. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Fieldly sold 132,171 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.06, for a total transaction of $5,691,283.26. Following the transaction, the chief executive officer owned 1,169,380 shares of the company's stock, valued at approximately $50,353,502.80. The trade was a 10.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 562,974 shares of company stock valued at $25,758,418. 2.20% of the stock is currently owned by corporate insiders.

Celsius Price Performance

NASDAQ CELH opened at $46.64 on Monday. The company has a fifty day moving average price of $42.56 and a 200-day moving average price of $34.83. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 145.75, a PEG ratio of 1.65 and a beta of 1.45. Celsius Holdings Inc. has a 1 year low of $21.10 and a 1 year high of $48.64.

Celsius (NASDAQ:CELH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The firm had revenue of $329.28 million during the quarter, compared to the consensus estimate of $349.09 million. Celsius had a return on equity of 42.12% and a net margin of 8.40%. The company's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, research analysts anticipate that Celsius Holdings Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CELH has been the subject of a number of research reports. Roth Capital restated a "buy" rating and issued a $52.00 price target (up from $46.00) on shares of Celsius in a report on Thursday, June 26th. UBS Group raised their target price on Celsius from $49.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on Celsius from $39.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Piper Sandler raised their price objective on Celsius from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Needham & Company LLC boosted their price objective on Celsius from $47.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Celsius presently has an average rating of "Moderate Buy" and a consensus target price of $46.94.

Celsius Profile

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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