Voleon Capital Management LP Buys Shares of 19,121 Monster Beverage Corporation $MNST

Key Points

• Voleon Capital Management LP has purchased a new stake in Monster Beverage Corporation, acquiring 19,121 shares valued at approximately $1,119,000 during the first quarter.
• Monster Beverage reported a quarterly revenue increase of 11.1% year-over-year, with earnings per share of $0.52 surpassing analyst estimates of $0.48.
• Insider transactions include Director Mark Vidergauz selling 10,000 shares at an average price of $63.73, resulting in a 16.34% decrease in his ownership of the stock.

Voleon Capital Management LP bought a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,121 shares of the company's stock, valued at approximately $1,119,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its holdings in Monster Beverage by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock valued at $286,000 after buying an additional 189 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares in the last quarter. Conning Inc. grew its holdings in Monster Beverage by 3.9% during the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock valued at $343,000 after buying an additional 219 shares in the last quarter. Eastern Bank increased its holdings in shares of 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 during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $63.02 on Tuesday. The business has a 50 day moving average of $61.63 and a 200 day moving average of $60.24. The company has a market capitalization of $61.53 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.17 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75.

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upped their price target 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. 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. JPMorgan Chase & Co. upped their price target 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. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Roth Capital reaffirmed a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Twelve 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. According to data from MarketBeat.com, Monster Beverage currently has an average rating of "Hold" and a consensus target price of $65.10.

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.

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