Pallas Capital Advisors LLC Sells 12,588 Shares of Monster Beverage Corporation $MNST

Pallas Capital Advisors LLC trimmed its position in Monster Beverage Corporation (NASDAQ:MNST) by 43.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,290 shares of the company’s stock after selling 12,588 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Monster Beverage were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in Monster Beverage in the 2nd quarter worth approximately $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Monster Beverage in the third quarter worth $27,000. Newbridge Financial Services Group Inc. raised its stake in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares in the last quarter. Finally, First Horizon Corp bought a new position in Monster Beverage during the third quarter valued at $29,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Trading Up 1.7%

Shares of MNST opened at $82.90 on Wednesday. The firm has a fifty day moving average price of $78.51 and a 200-day moving average price of $71.26. The firm has a market capitalization of $81.00 billion, a P/E ratio of 47.10, a P/E/G ratio of 2.12 and a beta of 0.45. Monster Beverage Corporation has a 12-month low of $48.95 and a 12-month high of $83.24.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of research reports. Wells Fargo & Company restated an “overweight” rating and issued a $86.00 target price (up from $83.00) on shares of Monster Beverage in a report on Monday, January 5th. Bank of America boosted their price objective on Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Monster Beverage in a research report on Monday, December 29th. BNP Paribas Exane upgraded Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price for the company in a report on Friday, January 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $81.00 target price (up previously from $75.00) on shares of Monster Beverage in a research report on Monday, December 1st. Fourteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.90.

Insider Activity

In related news, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by insiders.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.