Algert Global LLC Boosts Position in Monster Beverage Co. (NASDAQ:MNST)

Algert Global LLC raised its position in Monster Beverage Co. (NASDAQ:MNST) by 1,660.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,576 shares of the company’s stock after acquiring an additional 77,886 shares during the quarter. Algert Global LLC’s holdings in Monster Beverage were worth $4,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MNST. LRI Investments LLC purchased a new position in shares of Monster Beverage in the first quarter worth approximately $26,000. Stephens Consulting LLC bought a new position in Monster Beverage in the second quarter worth approximately $26,000. Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the 2nd quarter worth $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Monster Beverage during the 2nd quarter valued at $30,000. Finally, Quarry LP increased its stake in shares of Monster Beverage by 152.0% in the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after purchasing an additional 497 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

NASDAQ MNST opened at $54.06 on Monday. The company has a market cap of $52.57 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.58 and a beta of 0.74. The business’s 50 day moving average price is $52.74 and its 200-day moving average price is $51.03. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial decreased their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Citigroup lowered their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, BMO Capital Markets cut their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage 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.