Cynosure Group LLC Purchases Shares of 5,369 Monster Beverage Co. (NASDAQ:MNST)

Cynosure Group LLC purchased a new position in Monster Beverage Co. (NASDAQ:MNST) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,369 shares of the company’s stock, valued at approximately $318,000.

Several other large investors also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in shares of Monster Beverage by 59.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock worth $7,609,000 after acquiring an additional 49,495 shares during the last quarter. Alaethes Wealth LLC purchased a new position in shares of Monster Beverage in the 4th quarter worth about $1,528,000. Louisiana State Employees Retirement System bought a new position in shares of Monster Beverage during the 4th quarter valued at about $7,340,000. Defender Capital LLC. raised its holdings in shares of Monster Beverage by 30.2% during the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after buying an additional 86,050 shares in the last quarter. Finally, Norges Bank bought a new stake in Monster Beverage in the 4th quarter worth approximately $517,035,000. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, the director now directly owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock valued at $16,070,374 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MNST shares. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and decreased their target price for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. Bank of America lowered their price target on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Roth Mkm decreased their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. Stifel Nicolaus dropped their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.33.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $0.25 during midday trading on Tuesday, reaching $50.61. 1,571,227 shares of the company’s stock traded hands, compared to its average volume of 7,358,725. The stock has a 50 day moving average of $50.96 and a 200 day moving average of $54.56. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.07 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. Sell-side analysts predict that Monster Beverage Co. will post 1.75 EPS for the current fiscal year.

Monster Beverage Company 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.