Sage Mountain Advisors LLC Boosts Stock Position in Monster Beverage Corporation $MNST

Sage Mountain Advisors LLC lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 18.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,696 shares of the company’s stock after buying an additional 1,500 shares during the period. Sage Mountain Advisors LLC’s holdings in Monster Beverage were worth $607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in shares of Monster Beverage during the second quarter worth approximately $28,000. Wayfinding Financial LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at about $29,000. Webster Bank N. A. purchased a new stake in Monster Beverage during the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after acquiring an additional 196 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Monster Beverage during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

MNST has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a research note on Saturday. UBS Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Royal Bank Of Canada increased their price objective on Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Thirteen equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.43.

Monster Beverage Price Performance

Shares of MNST opened at $69.69 on Friday. The company has a 50-day simple moving average of $65.67 and a two-hundred day simple moving average of $62.79. The firm has a market capitalization of $68.05 billion, a PE ratio of 43.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.72.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) 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 firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.