Monster Beverage Corp (NASDAQ:MNST) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 11,850,000 shares, an increase of 5.1% from the October 31st total of 11,280,000 shares. Based on an average daily trading volume, of 2,860,000 shares, the short-interest ratio is currently 4.1 days. Currently, 3.1% of the company’s stock are short sold.
MNST has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on shares of Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group raised their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 target price for the company in a research note on Tuesday, October 1st. Morgan Stanley raised their target price on shares of Monster Beverage from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, BidaskClub downgraded shares of Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Monster Beverage presently has an average rating of “Hold” and a consensus target price of $64.93.
In other news, insider Emelie Tirre sold 10,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $58.58, for a total transaction of $615,090.00. Following the completion of the transaction, the insider now directly owns 63,101 shares in the company, valued at approximately $3,696,456.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 10.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MNST. SevenBridge Financial Group LLC bought a new position in Monster Beverage in the 2nd quarter valued at about $50,000. NEXT Financial Group Inc raised its holdings in Monster Beverage by 22.1% in the 2nd quarter. NEXT Financial Group Inc now owns 4,951 shares of the company’s stock valued at $316,000 after acquiring an additional 897 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Monster Beverage by 13.2% during the second quarter. Commonwealth Equity Services LLC now owns 10,668 shares of the company’s stock worth $680,000 after purchasing an additional 1,244 shares during the period. FDx Advisors Inc. bought a new position in shares of Monster Beverage during the second quarter worth approximately $566,000. Finally, Cerebellum GP LLC increased its holdings in shares of Monster Beverage by 1,596.5% during the second quarter. Cerebellum GP LLC now owns 5,361 shares of the company’s stock worth $342,000 after purchasing an additional 5,045 shares during the period. 65.94% of the stock is currently owned by hedge funds and other institutional investors.
Monster Beverage stock traded down $0.27 during trading hours on Friday, hitting $59.82. The company had a trading volume of 1,085,766 shares, compared to its average volume of 3,381,503. The firm has a market cap of $32.07 billion, a PE ratio of 33.42, a PEG ratio of 2.05 and a beta of 1.17. Monster Beverage has a one year low of $47.74 and a one year high of $66.38. The firm has a 50-day moving average of $57.34 and a 200 day moving average of $60.25.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts expect that Monster Beverage will post 2.04 earnings per share for the current year.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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