Fred Alger Management LLC Sells 54,142 Shares of Celsius Holdings, Inc. (NASDAQ:CELH)

Fred Alger Management LLC reduced its position in shares of Celsius Holdings, Inc. (NASDAQ:CELH - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,260 shares of the company's stock after selling 54,142 shares during the period. Fred Alger Management LLC's holdings in Celsius were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Champlain Investment Partners LLC acquired a new position in shares of Celsius in the fourth quarter worth approximately $85,068,000. Contrarius Group Holdings Ltd acquired a new position in shares of Celsius in the fourth quarter worth approximately $75,535,000. Norges Bank acquired a new position in shares of Celsius in the fourth quarter worth approximately $72,579,000. Alyeska Investment Group L.P. lifted its stake in shares of Celsius by 60.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock worth $181,164,000 after acquiring an additional 2,591,345 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Celsius in the fourth quarter worth approximately $61,160,000. 60.95% of the stock is currently owned by institutional investors.

Celsius Trading Up 1.6%

Shares of CELH stock traded up $0.61 on Tuesday, hitting $37.93. 6,541,876 shares of the stock were exchanged, compared to its average volume of 7,884,562. The firm has a market capitalization of $9.78 billion, a PE ratio of 86.21, a P/E/G ratio of 2.90 and a beta of 1.65. Celsius Holdings, Inc. has a one year low of $21.10 and a one year high of $98.85. The firm's 50 day moving average is $34.23 and its two-hundred day moving average is $29.69.

Celsius (NASDAQ:CELH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Celsius had a return on equity of 51.89% and a net margin of 10.70%. The firm had revenue of $329.28 million for the quarter, compared to the consensus estimate of $349.09 million. During the same quarter in the previous year, the company posted $0.27 EPS. The firm's revenue was down 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Celsius Holdings, Inc. will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joyce Russell sold 4,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $28.47, for a total transaction of $113,880.00. Following the transaction, the director now directly owns 19,106 shares of the company's stock, valued at approximately $543,947.82. This trade represents a 17.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul H. Storey sold 10,188 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $25.77, for a total value of $262,544.76. Following the transaction, the insider now directly owns 45,297 shares in the company, valued at approximately $1,167,303.69. This represents a 18.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CELH shares. Stifel Nicolaus cut their price objective on Celsius from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Piper Sandler boosted their price target on Celsius from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of Celsius in a research report on Wednesday, May 7th. UBS Group upped their target price on Celsius from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Roth Mkm reiterated a "buy" rating and set a $38.00 price target on shares of Celsius in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celsius presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.88.

Celsius Company 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.