Leavell Investment Management Inc. Reduces Position in Celsius Holdings, Inc. (NASDAQ:CELH)

Leavell Investment Management Inc., an investment management firm, reduced its stake in Celsius Holdings, Inc. (NASDAQ:CELH) by 25% during the third quarter, according to the company's most recent Form 13F filing with the SEC.

The firm sold 553,464 shares of the company's stock, leaving it with 1,661,390 shares worth $19.5 million. This represents approximately 0.9% of the company's outstanding shares.

Celsius Holdings, Inc. is a provider of energy drinks and dietary supplements. The company's products are sold in over 90 countries worldwide.

The company's stock price has been under pressure in recent months due to concerns about the competitive landscape in the energy drink market. Celsius Holdings, Inc. faces competition from a number of large and well-established companies, including Coca-Cola Co. and PepsiCo, Inc.

Despite the challenges facing the company, Leavell Investment Management Inc. remains bullish on Celsius Holdings, Inc. The firm believes that the company's products are well-positioned to continue to gain market share in the years to come.

The sale of shares by Leavell Investment Management Inc. is likely a reflection of the firm's desire to take some profits off the table. The firm has been a long-term investor in Celsius Holdings, Inc., and the sale of shares is not necessarily a sign that the firm is bearish on the company's prospects.

It is important to note that Leavell Investment Management Inc. is just one of many investors in Celsius Holdings, Inc. The firm's sale of shares does not necessarily reflect the views of other investors.