Recent Insider Activity Could Benefit Monster Beverage Corporation (MNST)

ZOM Stock
ZOM Stock

In a filing, Monster Beverage Corporation revealed its Director Demel Ana unloaded Company’s shares for reported $6640.0 on Aug 21. In the deal valued at $57.24 per share,116 shares were sold. As a result of this transaction, Demel Ana now holds 0 shares worth roughly $ 0.0.

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Then, HALL MARK J sold 56,202 shares, generating $3,305,240 in total proceeds. Upon selling the shares at $58.81, the Director now owns 1,027,840 shares.

Before that, VIDERGAUZ MARK sold 5,000 shares. Monster Beverage Corporation shares valued at $295,000 were divested by the Director at a price of $59.00 per share. As a result of the transaction, VIDERGAUZ MARK now holds 84,270 shares, worth roughly $4.73 million.

HSBC Securities initiated its Monster Beverage Corporation [MNST] rating to a Buy in a research note published on Friday, August 14, 2023; the price target was $72. PT values the company’s stock at a premium of 22.03 to its Friday closing price.

Price Performance Review of MNST

On Friday, Monster Beverage Corporation [NASDAQ:MNST] saw its stock fall -1.28% to $56.14. On the same session, the stock had its day’s lowest price of $55.985, but rose to a high of $57.04. Over the last five days, the stock has lost -0.41%. Monster Beverage Corporation shares have risen nearly 10.59% since the year began. Nevertheless, the stocks have risen 26.26% over the past one year. While a 52-week high of $60.47 was reached on 05/05/23, a 52-week low of $42.81 was recorded on 03/01/23. SMA at 50 days reached $57.28, while 200 days put it at $54.53. A total of 9.72 million shares were traded, compared to the trading of 2.99 million shares in the previous session.

Levels Of Support And Resistance For MNST Stock

The 24-hour chart illustrates a support level at 55.74, which if violated will result in even more drops to 55.33. On the upside, there is a resistance level at 56.79. A further resistance level may holdings at 57.44. The Relative Strength Index (RSI) on the 14-day chart is 43.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.27%. Stochastics %K at 32.24% indicates the stock is a holding.

How much short interest is there in Monster Beverage Corporation?

A steep rise in short interest was recorded in Monster Beverage Corporation stocks on Aug 30, 2023, dropping by -0.59 million shares to a total of 11.49 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 12.08 million shares. There was a decline of -5.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.74% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.74.

Monster Beverage Corporation [MNST] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 60,326,760 shares, or roughly 5.76% of the outstanding MNST shares. In other words, the investor’s shares have risen by 476,342 from its previous 13-F filing of 59850418.0. Additionally, AllianceBernstein LP decreased -1.85% of its stake after which the total value it holdings stand at $2,134,174,554, while BlackRock Fund Advisors added 0.19% of its stake to hold $2.02 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 682,650 shares of Monster Beverage Corporation, while Fidelity Management & Research Co bought -1,513,891 shares. At present, Loomis, Sayles & Co. LP is holding 27,203,495 shares valued at $1.56 billion. JPMorgan Investment Management, I owned 23,262,067 shares of the company at the time of its most recent 13F filing, worth $1.34 billion.

According to FactSet, Monster Beverage Corporation’s share price will average $63.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.78 percent from its previous closing price of $56.87. Analysts expect Monster Beverage Corporation stock to reach the higher price of $72.00, while the lowest price estimate is $57.00. However, 24 analysts have rated MNST stock as an Overweight in their predictions for 2023.


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