Park Place Capital Corp Sells 3,634 Shares of Monster Beverage Co. (NASDAQ:MNST)

Park Place Capital Corp lowered its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 48.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,836 shares of the company’s stock after selling 3,634 shares during the period. Park Place Capital Corp’s holdings in Monster Beverage were worth $192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Monster Beverage by 59.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock worth $7,609,000 after acquiring an additional 49,495 shares during the last quarter. Alaethes Wealth LLC purchased a new position in shares of Monster Beverage during the 4th quarter worth $1,528,000. Louisiana State Employees Retirement System purchased a new position in shares of Monster Beverage during the 4th quarter worth $7,340,000. Norges Bank purchased a new position in shares of Monster Beverage during the 4th quarter worth $517,035,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Monster Beverage by 9.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock worth $590,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders have sold 307,221 shares of company stock worth $16,070,374 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MNST shares. Bank of America lowered their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and lowered their target price for the company from $65.00 to $46.00 in a research note on Thursday, April 25th. Citigroup lowered their target price on shares of Monster Beverage from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler lifted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, UBS Group lowered their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Monster Beverage has an average rating of “Hold” and a consensus price target of $59.33.

Monster Beverage Stock Down 2.0 %

NASDAQ:MNST traded down $1.05 during mid-day trading on Monday, hitting $50.56. 2,458,679 shares of the stock traded hands, compared to its average volume of 7,259,067. The stock has a market capitalization of $52.67 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.09 and a beta of 0.76. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22. The firm’s 50 day moving average is $50.48 and its two-hundred day moving average is $54.09.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, research analysts predict that Monster Beverage Co. will post 1.75 EPS for the current year.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.