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Short Interest is Tapering Off in These 5 Nasdaq Stocks

#4. Monster Beverage Corporation (NASDAQ:MNST)

– Change in short interest in the period of June 15-June 30: -57.6%

– Investors with long positions as of March 31: 31

– Aggregate value of investors’ holdings as of March 31: $1.02 Billion

Short interest for Monster Beverage Corporation (NASDAQ:MNST) declined by 5.72 million shares during the two-week period ending June 30 to 4.21 million shares. The number of asset managers from our system with stakes in Monster Beverage remained unchanged at 31 during the first quarter, whereas the aggregate value of those stakes rose by 20% quarter-over-quarter to $1.02 billion. The energy drink company has seen the value of its stock jump by 7% so far in 2016. Earlier this month, analysts at Wells Fargo downgraded Monster Beverage to ‘Market Perform’ from ‘Outperform’ in anticipation of a weak second-quarter earnings report. Precisely, Wells Fargo analysts say near-term upside potential is limited because of soft second-quarter U.S. results based on survey that suggest 4.3% of dollar sales growth for Monster in the U.S. convenience-store channel, delays in launching new innovation, as well as ongoing macroeconomic challenges in international markets caused by the so-called Brexit and a slowing Chinese economy. Stephen Mandel’s Lone Pine Capital acquired a new stake of 1.11 million shares of Monster Beverage Corporation (NASDAQ:MNST) during the first quarter.

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#3. Euronet Worldwide Inc. (NASDAQ:EEFT)

– Change in short interest in the period of June 15-June 30: -57.6%

– Investors with long positions as of March 31: 17

– Aggregate value of investors’ holdings as of March 31: $184.22 Million

Up-to-date short interest data reveals a 1.09 million share-decrease in short interest for Euronet Worldwide Inc. (NASDAQ:EEFT) to 802,028 shares, with the company’s short interest as a percentage of its float standing at only 1.6% at the end of June. Euronet fell out of favor with the money managers followed by Insider Monkey during the first quarter of 2016, as the number of managers invested in the company dropped to 17 from 30 quarter-over-quarter. Similarly, the overall value of those managers’ equity investments in the company decreased by 16% quarter-on-quarter to $184.22 million. The electronic payments provider has seen its shares gain 11% in the past 52 weeks. The company’s EFT Processing segment, which processes transactions for a network of nearly 25,000 ATMs and roughly 129,000 POS terminals across Europe, the Middle East and Asia Pacific, represents Euronet’s smallest (20% of overall revenues) but most profitable segment. Revenues in this segment grew 16% year-over-year in the first quarter to $86.57 million. Phil Frohlich’s Prescott Group Capital Management has 20,064 shares of Euronet Worldwide Inc. (NASDAQ:EEFT) among its holdings as of the end of June.

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