Gardner Lewis Asset Management L P Has $2.08 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Gardner Lewis Asset Management L P raised its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 11.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,668 shares of the company’s stock after buying an additional 4,294 shares during the period. Gardner Lewis Asset Management L P’s holdings in Monster Beverage were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MNST. LRI Investments LLC bought a new stake in shares of Monster Beverage during the first quarter worth $26,000. ICA Group Wealth Management LLC acquired a new stake in Monster Beverage in the 4th quarter valued at about $27,000. Tortoise Investment Management LLC raised its stake in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Stephens Consulting LLC bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $26,000. Finally, Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $30,000. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of a number of recent research reports. BNP Paribas started coverage on Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 target price for the company. TD Cowen reduced their target price on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Citigroup cut their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Truist Financial reduced their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.85.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $51.07 on Wednesday. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 2.28 and a beta of 0.74. The stock’s fifty day moving average price is $49.03 and its two-hundred day moving average price is $52.32.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

About Monster Beverage

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.