Broad Bay Capital Management LP Purchases 186,643 Shares of Celsius Holdings Inc. $CELH

Broad Bay Capital Management LP increased its holdings in shares of Celsius Holdings Inc. (NASDAQ:CELH) by 27.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 870,914 shares of the company’s stock after purchasing an additional 186,643 shares during the quarter. Celsius accounts for about 4.8% of Broad Bay Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Broad Bay Capital Management LP owned approximately 0.34% of Celsius worth $40,402,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CELH. Summit Securities Group LLC purchased a new stake in Celsius during the first quarter worth approximately $34,000. Hantz Financial Services Inc. lifted its holdings in shares of Celsius by 1,476.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 788 shares of the company’s stock valued at $37,000 after acquiring an additional 738 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Celsius by 244.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,119 shares of the company’s stock worth $52,000 after purchasing an additional 794 shares during the period. Huntington National Bank increased its holdings in Celsius by 939.8% in the 2nd quarter. Huntington National Bank now owns 1,175 shares of the company’s stock valued at $55,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Celsius in the second quarter valued at about $75,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Celsius Stock Down 2.5%

CELH stock opened at $43.21 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $52.07 and a 200-day simple moving average of $50.28. The company has a market capitalization of $11.14 billion, a P/E ratio of 432.10, a PEG ratio of 0.82 and a beta of 1.01. Celsius Holdings Inc. has a twelve month low of $21.10 and a twelve month high of $66.74.

Celsius (NASDAQ:CELH) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The firm had revenue of $725.11 million for the quarter, compared to the consensus estimate of $703.68 million. Celsius had a net margin of 3.03% and a return on equity of 41.88%. The firm’s revenue for the quarter was up 172.9% compared to the same quarter last year. On average, equities research analysts predict that Celsius Holdings Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder William H. Milmoe sold 40,000 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $62.50, for a total value of $2,500,000.00. Following the completion of the sale, the insider directly owned 221,245 shares of the company’s stock, valued at $13,827,812.50. The trade was a 15.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jarrod Langhans sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. Following the transaction, the chief financial officer directly owned 99,227 shares in the company, valued at approximately $6,449,755. This represents a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CELH. Bank of America reduced their price objective on Celsius from $55.00 to $50.00 and set an “underperform” rating on the stock in a research note on Friday, November 7th. Zacks Research lowered Celsius from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley set a $70.00 price target on Celsius in a report on Tuesday, September 30th. B. Riley increased their price objective on shares of Celsius from $56.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Finally, Citigroup dropped their price objective on shares of Celsius from $73.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.95.

Celsius Profile

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.