AlphaQuest LLC Sells 27,441 Shares of Monster Beverage Corporation $MNST

AlphaQuest LLC lowered its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 87.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,104 shares of the company’s stock after selling 27,441 shares during the period. AlphaQuest LLC’s holdings in Monster Beverage were worth $276,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its stake in shares of Monster Beverage by 49.0% in the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after purchasing an additional 146 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Monster Beverage by 4.1% in the 3rd quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock worth $265,000 after buying an additional 155 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock worth $93,000 after buying an additional 176 shares during the last quarter. Accretive Wealth Partners LLC increased its stake in shares of Monster Beverage by 1.0% during the second quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after buying an additional 190 shares during the period. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Monster Beverage by 2.9% during the second quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock valued at $420,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $80.90 on Tuesday. Monster Beverage Corporation has a fifty-two week low of $46.57 and a fifty-two week high of $83.24. The firm’s 50-day simple moving average is $77.62 and its two-hundred day simple moving average is $70.36. The stock has a market cap of $79.04 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 2.14 and a beta of 0.45.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MNST. TD Cowen reiterated a “hold” rating on shares of Monster Beverage in a report on Thursday, January 8th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $86.00 target price (up previously from $83.00) on shares of Monster Beverage in a research note on Monday, January 5th. BMO Capital Markets reissued a “market perform” rating and issued a $73.00 price target (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Roth Mkm reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Monster Beverage in a research report on Wednesday, December 3rd. Finally, Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Fourteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.71.

Insider Buying and Selling

In related news, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider owned 63,939 shares of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 274,981 shares of company stock worth $20,138,516 in the last 90 days. Insiders own 7.80% of the company’s stock.

About Monster Beverage

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.