Quantbot Technologies LP Takes Position in Monster Beverage Corporation $MNST

Key Points

• Quantbot Technologies LP has acquired a new stake in Monster Beverage Corporation, purchasing 39,650 shares valued at approximately $2.32 million.
• CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage, marking a significant 28.05% decrease in his ownership, while director Mark Vidergauz sold 10,000 shares, reflecting a 16.34% decrease.
• Recent analyst ratings show a mix of upgrades and downgrades, with Bank of America raising its price target to $72.00 while Redburn Atlantic downgraded its rating from “strong-buy” to “hold” with a price target decrease to $60.00.

Quantbot Technologies LP acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,650 shares of the company's stock, valued at approximately $2,320,000.

A number of other large investors have also made changes to their positions in the stock. Pinnacle Associates Ltd. raised its position in shares of Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock valued at $286,000 after buying an additional 189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in 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 purchasing an additional 196 shares in the last quarter. Conning Inc. raised its position in Monster Beverage by 3.9% in the first quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after purchasing an additional 219 shares in the last quarter. Eastern Bank raised its position in Monster Beverage by 3.0% in the first quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after purchasing an additional 221 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Monster Beverage by 21.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MNST. Bank of America increased their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Redburn Atlantic lowered shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Truist Financial increased their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Finally, UBS Group raised their price objective on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.10.

Monster Beverage Trading Up 0.6%

NASDAQ MNST opened at $64.39 on Thursday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75. The company has a 50 day moving average of $61.69 and a 200-day moving average of $58.83. The firm has a market cap of $62.87 billion, a price-to-earnings ratio of 39.99, a PEG ratio of 2.09 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. Monster Beverage's revenue 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 year.

Monster Beverage 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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.