Aigen Investment Management LP Invests $1.27 Million in Monster Beverage Corporation $MNST

Aigen Investment Management LP bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the 4th quarter, Holdings Channel reports. The institutional investor bought 16,573 shares of the company’s stock, valued at approximately $1,271,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Investment Advisory LLC boosted its stake in shares of Monster Beverage by 136.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after buying an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Monster Beverage in the third quarter valued at approximately $36,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Monster Beverage in the third quarter valued at approximately $45,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Monster Beverage in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MNST shares. Sanford C. Bernstein started coverage on Monster Beverage in a research note on Friday. They issued a “market perform” rating and a $95.00 price target on the stock. Piper Sandler lifted their price objective on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Rothschild & Co Redburn raised Monster Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $90.00 in a report on Wednesday, May 6th. Stifel Nicolaus reduced their price objective on Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $89.35.

Insider Buying and Selling

In other news, CEO Guy Carling sold 19,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total value of $1,727,100.00. Following the completion of the sale, the chief executive officer owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This represents a 46.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the transaction, the chief financial officer directly owned 62,553 shares of the company’s stock, valued at $5,492,778.93. This represents a 10.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 178,700 shares of company stock worth $15,457,562 over the last three months. 8.10% of the stock is currently owned by corporate insiders.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $92.83 on Friday. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $93.08. The business has a 50-day moving average of $82.16 and a two-hundred day moving average of $79.26. The firm has a market capitalization of $90.79 billion, a PE ratio of 44.85, a P/E/G ratio of 3.06 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s revenue was up 22.6% compared to the same quarter last year. As a group, research analysts anticipate that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

Monster Beverage declared that its Board of Directors has approved a share repurchase plan on Friday, May 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.