AdvisorShares Investments LLC Makes New Investment in Monster Beverage Corporation $MNST

AdvisorShares Investments LLC acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,300 shares of the company’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Strs Ohio lifted its holdings in Monster Beverage by 27.5% in the second quarter. Strs Ohio now owns 201,520 shares of the company’s stock worth $12,623,000 after buying an additional 43,469 shares during the period. Amalgamated Bank lifted its holdings in shares of Monster Beverage by 12.6% during the second quarter. Amalgamated Bank now owns 168,304 shares of the company’s stock valued at $10,543,000 after purchasing an additional 18,870 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Monster Beverage by 28.2% during the second quarter. Savvy Advisors Inc. now owns 4,927 shares of the company’s stock valued at $309,000 after purchasing an additional 1,083 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Monster Beverage by 43.0% during the second quarter. Assetmark Inc. now owns 409,271 shares of the company’s stock valued at $25,637,000 after purchasing an additional 123,106 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Monster Beverage by 15.9% during the second quarter. Premier Path Wealth Partners LLC now owns 5,085 shares of the company’s stock valued at $319,000 after purchasing an additional 699 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Finally, Rothschild & Co Redburn lowered Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Monster Beverage presently has a consensus rating of “Hold” and a consensus price target of $67.10.

Monster Beverage Trading Up 0.0%

MNST stock opened at $66.57 on Friday. The stock has a market capitalization of $65.00 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.72. The stock’s 50 day simple moving average is $65.97 and its 200 day simple moving average is $63.06.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction on 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 approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

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.