TT International Asset Management LTD Buys 170,797 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

TT International Asset Management LTD increased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 1,643.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,188 shares of the company's stock after purchasing an additional 170,797 shares during the quarter. Vita Coco makes up approximately 0.6% of TT International Asset Management LTD's holdings, making the stock its 25th biggest holding. TT International Asset Management LTD owned approximately 0.32% of Vita Coco worth $5,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COCO. nVerses Capital LLC lifted its stake in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock valued at $72,000 after buying an additional 1,900 shares in the last quarter. CWM LLC boosted its position in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company's stock valued at $76,000 after acquiring an additional 787 shares during the period. Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after acquiring an additional 3,473 shares during the period. Comerica Bank lifted its position in Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after purchasing an additional 3,675 shares during the period. Finally, ProShare Advisors LLC bought a new stake in Vita Coco during the second quarter worth about $141,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Trading Up 2.2 %

NASDAQ:COCO traded up $0.79 on Wednesday, reaching $37.14. 244,924 shares of the stock traded hands, compared to its average volume of 603,870. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.37 and a beta of 0.31. The company's 50 day moving average is $32.62 and its 200-day moving average is $29.04. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.30.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the transaction, the chief executive officer now directly owns 372,152 shares in the company, valued at $13,390,028.96. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 905 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares in the company, valued at approximately $3,703,932. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,951 shares of company stock worth $3,201,769. Corporate insiders own 34.20% of the company's stock.

Wall Street Analysts Forecast Growth

COCO has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Craig Hallum boosted their target price on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.