Assetmark Inc. Boosts Stock Position in Monster Beverage Corporation $MNST

Assetmark Inc. grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,473 shares of the company’s stock after acquiring an additional 24,202 shares during the period. Assetmark Inc.’s holdings in Monster Beverage were worth $29,177,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new stake in Monster Beverage in the second quarter valued at $25,000. Physician Wealth Advisors Inc. increased its stake in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Monster Beverage during the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at approximately $28,000. Finally, Newbridge Financial Services Group Inc. increased its position 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 worth $28,000 after buying an additional 415 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

MNST opened at $81.48 on Friday. Monster Beverage Corporation has a 1-year low of $48.95 and a 1-year high of $83.24. The company has a 50-day moving average of $78.17 and a 200-day moving average of $70.80. The company has a market capitalization of $79.61 billion, a P/E ratio of 46.30, a PEG ratio of 2.11 and a beta of 0.45.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MNST shares. Bank of America boosted their price objective on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 19th. BNP Paribas Exane raised Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research note on Friday, January 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $86.00 target price (up from $83.00) on shares of Monster Beverage in a research report on Monday, January 5th. Jefferies Financial Group restated a “buy” rating and issued a $79.00 price target on shares of Monster Beverage in a report on Tuesday, November 4th. Finally, Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Fourteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.90.

Insider Buying and Selling

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was 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 in the company, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is currently owned by corporate insiders.

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.