Ashton Thomas Private Wealth LLC Trims Stake in Monster Beverage Corporation $MNST

Ashton Thomas Private Wealth LLC lessened its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 20.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,222 shares of the company’s stock after selling 2,679 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Monster Beverage were worth $640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Monster Beverage during the 2nd quarter valued at $28,000. Wayfinding Financial LLC bought a new stake in shares of Monster Beverage during the first quarter worth $29,000. Webster Bank N. A. purchased a new stake in shares of Monster Beverage during the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the first quarter worth about $43,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MNST. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Redburn Atlantic downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and decreased their price target for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. UBS Group increased their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Roth Capital restated a “neutral” rating and set a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, Rothschild & Co Redburn cut Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.10.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is owned by company insiders.

Monster Beverage Price Performance

Shares of MNST stock opened at $66.57 on Friday. The stock’s fifty day moving average price is $65.97 and its 200 day moving average price is $63.06. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.72. The company has a market cap of $65.00 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.