MIG Capital LLC has decreased its position in shares of Celsius Holdings Inc. (NASDAQ: CELH) by 16.8% during the second quarter of 2023, according to a report from HoldingsChannel.com. The institutional investor sold 265,271 shares, bringing its total holdings to 1,310,668 shares. This adjustment now reflects approximately 6.3% of MIG Capital LLC’s investment portfolio, making Celsius its second-largest position, valued at about $60.8 million based on the most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their stakes in Celsius. Notably, Summit Securities Group LLC acquired a new stake valued at around $34,000 during the first quarter. Hantz Financial Services Inc. significantly increased its holdings by 1,476.0% in the second quarter, now owning 788 shares worth approximately $37,000 after purchasing an additional 738 shares. Similarly, Huntington National Bank raised its holdings by 939.8%, acquiring a total of 1,175 shares worth about $55,000 after purchasing an additional 1,062 shares. Other notable investments include Ameritas Advisory Services LLC, which acquired a new position valued at roughly $75,000, and Quarry LP, which boosted its stake by 288.0% in the first quarter, now owning 2,258 shares valued at approximately $80,000. Currently, hedge funds and institutional investors collectively own 60.95% of Celsius stock.
The price performance for Celsius Holdings remains noteworthy. Shares opened at $40.40 as of Wednesday. The company boasts a market capitalization of $10.41 billion, a debt-to-equity ratio of 0.68, and a current ratio of 2.11. Its price-to-earnings (P/E) ratio stands at 109.19, while the P/E growth (P/E/G) ratio is 1.25. Over the past year, Celsius has experienced a low of $21.10 and a high of $66.74. The fifty-day moving average price is $54.48, and the two-hundred-day moving average price is $49.97.
In terms of insider activity, Director Hal Kravitz purchased 10,000 shares on November 13, 2023, at an average cost of $45.24 per share, totaling $452,400. Following this transaction, Kravitz holds 216,147 shares valued at approximately $9.78 million, reflecting a 4.85% increase in his position. Conversely, major shareholder William H. Milmoe sold 40,000 shares on October 10, 2023, at an average price of $62.50, amounting to $2.5 million. This sale resulted in Milmoe owning 221,245 shares, valued at about $13.83 million, marking a 15.31% decrease in his ownership. In total, insiders have sold 52,500 shares worth $3.28 million in the last quarter, with insiders retaining 2.55% of the company’s stock.
Analysts have provided varied insights on Celsius Holdings. Weiss Ratings recently restated a “sell (d+)” rating. Meanwhile, Maxim Group increased its price target from $50.00 to $65.00, maintaining a “buy” rating. Roth Capital also reiterated a “buy” rating, while Bank of America lowered its price target from $55.00 to $50.00, indicating an “underperform” rating. The Royal Bank of Canada reaffirmed its “outperform” rating. Currently, twenty analysts have rated Celsius with a “buy” designation, three have issued a “hold” rating, and two have given it a “sell” rating. According to data from MarketBeat, the stock holds an average rating of “Moderate Buy” and an average target price of $62.95.
Celsius Holdings, Inc. specializes in developing, marketing, and distributing functional energy drinks and liquid supplements across multiple regions, including the United States, Australia, New Zealand, and Europe. Its flagship products include the CELSIUS brand, designed to enhance metabolism and promote fat burning, alongside various energy drink lines such as CELSIUS Originals and Vibe, as well as ready-to-drink options.
For those interested in further investment details and insights on Celsius, HoldingsChannel.com offers the latest 13F filings and insider trades related to Celsius Holdings Inc. (NASDAQ: CELH).
