Corebridge Financial Inc. Trims Stock Position in Celsius Holdings, Inc. (NASDAQ:CELH)

Corebridge Financial Inc. cut its holdings in Celsius Holdings, Inc. (NASDAQ:CELH) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,335 shares of the company’s stock after selling 6,545 shares during the quarter. Corebridge Financial Inc.’s holdings in Celsius were worth $4,750,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Contrarius Group Holdings Ltd acquired a new stake in Celsius during the 4th quarter valued at $75,535,000. Raymond James Financial Inc. purchased a new stake in Celsius during the 4th quarter worth about $61,160,000. SG Americas Securities LLC raised its stake in Celsius by 10,320.0% in the 4th quarter. SG Americas Securities LLC now owns 1,932,813 shares of the company’s stock valued at $50,910,000 after purchasing an additional 1,914,264 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in Celsius by 993.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,180,904 shares of the company’s stock valued at $37,033,000 after purchasing an additional 1,072,859 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Celsius by 91.9% during the 4th quarter. American Century Companies Inc. now owns 933,870 shares of the company’s stock worth $24,598,000 after purchasing an additional 447,328 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Celsius news, insider Paul H. Storey sold 10,188 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $25.77, for a total value of $262,544.76. Following the completion of the transaction, the insider now directly owns 45,297 shares of the company’s stock, valued at $1,167,303.69. This represents a 18.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joyce Russell sold 4,000 shares of Celsius stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $28.47, for a total value of $113,880.00. Following the sale, the director now directly owns 19,106 shares in the company, valued at approximately $543,947.82. The trade was a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Celsius Price Performance

NASDAQ:CELH opened at $33.65 on Monday. The business’s 50-day moving average is $26.86 and its two-hundred day moving average is $28.77. The firm has a market capitalization of $7.91 billion, a PE ratio of 76.48, a price-to-earnings-growth ratio of 2.90 and a beta of 1.90. Celsius Holdings, Inc. has a 12 month low of $21.10 and a 12 month high of $98.85.

Celsius (NASDAQ:CELH) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Celsius had a return on equity of 51.89% and a net margin of 10.70%. The firm had revenue of $332.20 million for the quarter, compared to analyst estimates of $326.07 million. Equities analysts anticipate that Celsius Holdings, Inc. will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

CELH has been the subject of a number of analyst reports. Needham & Company LLC boosted their price objective on shares of Celsius from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $42.00 price target on shares of Celsius in a report on Thursday, December 26th. Jefferies Financial Group decreased their price objective on Celsius from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. B. Riley reaffirmed a “buy” rating and issued a $49.00 price objective (up previously from $44.00) on shares of Celsius in a research report on Friday, February 21st. Finally, TD Cowen downgraded Celsius from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $29.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.41.

Celsius Company 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.