Ranger Investment Management L.P. Decreases Position in Vita Coco Company, Inc. $COCO

Ranger Investment Management L.P. reduced its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,225 shares of the company’s stock after selling 71,950 shares during the period. Ranger Investment Management L.P.’s holdings in Vita Coco were worth $6,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco in the third quarter valued at $62,815,000. Marshall Wace LLP purchased a new position in Vita Coco during the second quarter worth about $9,627,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Vita Coco during the second quarter valued at about $4,385,000. BNP Paribas Financial Markets raised its stake in shares of Vita Coco by 1,181.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 112,291 shares of the company’s stock valued at $4,054,000 after acquiring an additional 103,530 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in shares of Vita Coco in the 2nd quarter worth approximately $3,610,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COCO. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Wall Street Zen upgraded Vita Coco from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Piper Sandler lifted their target price on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Finally, Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Vita Coco Stock Performance

COCO opened at $57.91 on Friday. The stock has a market capitalization of $3.30 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.38. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $58.05. The business’s 50-day simple moving average is $53.88 and its 200-day simple moving average is $44.67.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 33,862 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the completion of the sale, the director directly owned 602,579 shares of the company’s stock, valued at approximately $30,291,646.33. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Es Charles Van sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the transaction, the insider directly owned 84,328 shares in the company, valued at approximately $4,216,400. The trade was a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,421 shares of company stock worth $8,009,791 in the last quarter. 32.30% of the stock is currently owned by company insiders.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.