Seven Eight Capital LP Has $415,000 Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Seven Eight Capital LP cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 86.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,002 shares of the company’s stock after selling 46,535 shares during the quarter. Seven Eight Capital LP’s holdings in Monster Beverage were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MNST. ICA Group Wealth Management LLC acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $27,000. Tortoise Investment Management LLC lifted its stake in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the last quarter. Rise Advisors LLC grew its position in shares of Monster Beverage by 187.6% in the 1st quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after acquiring an additional 467 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Monster Beverage by 68.1% during the 1st quarter. Benjamin Edwards Inc. now owns 950 shares of the company’s stock worth $56,000 after purchasing an additional 385 shares during the last quarter. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at about $66,000. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MNST. Roth Mkm reduced their price target on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. Citigroup reduced their target price on Monster Beverage from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of Monster Beverage from $65.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Hold” and an average price target of $59.33.

Insiders Place Their Bets

In other news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. Insiders have sold 307,221 shares of company stock worth $16,070,374 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST traded down $0.72 during trading hours on Wednesday, reaching $49.59. 7,109,660 shares of the company were exchanged, compared to its average volume of 7,390,916. The business has a 50 day moving average of $50.87 and a 200 day moving average of $54.51. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The company has a market capitalization of $51.66 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.05 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released 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 for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. As a group, equities research analysts anticipate that Monster Beverage Co. will post 1.75 earnings per share 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.