Ranger Investment Management L.P. Takes $5.63 Million Position in Vita Coco Company, Inc. $COCO

Key Points

• Ranger Investment Management acquired 85,105 Vita Coco shares worth approximately $5.63 million, while institutional investors collectively own 88.49% of the company.
• Vita Coco reported strong quarterly results, with EPS of $0.82 beating estimates by $0.26 and revenue rising 28.1% year over year to $216.15 million.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $77.71, although insiders sold roughly $28 million of stock over the past 90 days.

Ranger Investment Management L.P. bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 85,105 shares of the company's stock, valued at approximately $5,629,000. Ranger Investment Management L.P. owned 0.15% of Vita Coco as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in COCO. BlackRock Inc. acquired a new position in Vita Coco in the 2nd quarter valued at approximately $463,654,000. Wasatch Advisors LP grew its holdings in shares of Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company's stock worth $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Vita Coco by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company's stock worth $166,959,000 after purchasing an additional 237,510 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company's stock valued at $128,940,000 after purchasing an additional 439,958 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Vita Coco during the fourth quarter valued at approximately $73,242,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Vita Coco news, Director Ira Liran sold 73,842 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the sale, the director owned 402,579 shares of the company's stock, valued at $32,335,145.28. This represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the sale, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Piper Sandler lifted their price target on shares of Vita Coco from $74.00 to $89.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Jefferies Financial Group boosted their price target on shares of Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Morgan Stanley increased their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. Finally, Evercore raised their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Vita Coco has an average rating of "Moderate Buy" and an average price target of $77.71.

Vita Coco Price Performance

NASDAQ COCO opened at $63.35 on Monday. The firm has a market cap of $3.64 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. Vita Coco Company, Inc. has a one year low of $33.19 and a one year high of $85.83. The stock's 50 day simple moving average is $70.82 and its 200 day simple moving average is $64.02.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The firm had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

About Vita Coco

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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