Monster Beverage Co. (NASDAQ:MNST) Short Interest Down 17.7% in March

Monster Beverage Co. (NASDAQ:MNST - Get Free Report) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 17,200,000 shares, a decline of 17.7% from the March 15th total of 20,900,000 shares. Approximately 1.9% of the company's stock are sold short. Based on an average trading volume of 6,810,000 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares of the company's stock, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Kelly sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now owns 72,273 shares in the company, valued at $3,994,528.71. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 over the last three months. Corporate insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sustainable Insight Capital Management LLC bought a new stake in shares of Monster Beverage during the 4th quarter worth $1,214,000. Van ECK Associates Corp raised its position in Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after purchasing an additional 7,780 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in Monster Beverage during the fourth quarter worth about $7,090,000. Diversified Trust Co purchased a new position in shares of Monster Beverage in the 4th quarter worth about $733,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of Monster Beverage during the 4th quarter valued at about $423,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of MNST stock traded down $0.27 on Friday, reaching $58.32. The company's stock had a trading volume of 863,794 shares, compared to its average volume of 6,411,110. The company has a market capitalization of $56.76 billion, a P/E ratio of 37.38, a PEG ratio of 2.28 and a beta of 0.64. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $60.34. The stock's 50 day simple moving average is $56.30 and its 200-day simple moving average is $53.37. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. As a group, equities analysts predict that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research analyst reports. Truist Financial boosted their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday. Royal Bank of Canada restated an "outperform" rating and set a $59.00 price target on shares of Monster Beverage in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group raised their price target on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.39.

About Monster Beverage

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.