MAI Capital Management Buys 1,321 Shares of Monster Beverage Corporation $MNST

MAI Capital Management lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 41.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,472 shares of the company’s stock after purchasing an additional 1,321 shares during the period. MAI Capital Management’s holdings in Monster Beverage were worth $280,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $25,000. Salomon & Ludwin LLC acquired a new position in shares of Monster Beverage during the second quarter valued at $28,000. Golden State Wealth Management LLC boosted its holdings in Monster Beverage by 647.3% in the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock valued at $35,000 after acquiring an additional 479 shares during the last quarter. Webster Bank N. A. acquired a new stake in Monster Beverage in the second quarter worth about $38,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Monster Beverage in the first quarter worth about $43,000. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

MNST has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Monster Beverage in a research note on Thursday, November 6th. UBS Group increased their price objective on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wells Fargo & Company upped their target price on shares of Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $75.04 on Thursday. The company has a 50 day moving average price of $68.79 and a two-hundred day moving average price of $64.61. The company has a market capitalization of $73.32 billion, a PE ratio of 46.61, a PEG ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $75.27.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.