Insider Buying: MINDBODY, Inc. (MB) Major Shareholder Acquires 341,079 Shares of Stock
MINDBODY, Inc. (NASDAQ:MB) major shareholder Luxor Capital Group, Lp purchased 341,079 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was bought at an average price of $27.95 per share, for a total transaction of $9,533,158.05. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Luxor Capital Group, Lp also recently made the following trade(s):
- On Monday, October 2nd, Luxor Capital Group, Lp purchased 111,445 shares of MINDBODY stock. The stock was bought at an average price of $26.45 per share, for a total transaction of $2,947,720.25.
- On Thursday, September 21st, Luxor Capital Group, Lp purchased 420,048 shares of MINDBODY stock. The stock was bought at an average price of $24.93 per share, for a total transaction of $10,471,796.64.
MINDBODY, Inc. (NASDAQ:MB) traded up 0.36% during mid-day trading on Thursday, hitting $27.65. 345,340 shares of the company traded hands. MINDBODY, Inc. has a one year low of $16.95 and a one year high of $28.30. The firm’s market capitalization is $1.28 billion. The firm has a 50 day moving average of $25.66 and a 200 day moving average of $25.66.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. MINDBODY’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Equities research analysts expect that MINDBODY, Inc. will post ($0.09) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of MB. FMR LLC grew its stake in MINDBODY by 481.5% in the 2nd quarter. FMR LLC now owns 3,150,890 shares of the technology company’s stock worth $85,705,000 after buying an additional 2,609,059 shares in the last quarter. Victory Capital Management Inc. purchased a new position in MINDBODY in the 2nd quarter worth approximately $37,529,000. JPMorgan Chase & Co. grew its stake in MINDBODY by 439.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the technology company’s stock worth $33,630,000 after buying an additional 998,004 shares in the last quarter. Vanguard Group Inc. grew its stake in MINDBODY by 67.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock worth $41,109,000 after buying an additional 607,182 shares in the last quarter. Finally, State Street Corp grew its stake in MINDBODY by 151.3% in the 2nd quarter. State Street Corp now owns 620,907 shares of the technology company’s stock worth $16,885,000 after buying an additional 373,828 shares in the last quarter. 92.75% of the stock is owned by institutional investors.
A number of brokerages have issued reports on MB. J P Morgan Chase & Co began coverage on shares of MINDBODY in a research report on Friday, June 9th. They set an “overweight” rating and a $38.00 target price on the stock. Zacks Investment Research lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Craig Hallum restated a “buy” rating and set a $30.00 target price on shares of MINDBODY in a research report on Monday, September 25th. KeyCorp restated a “hold” rating on shares of MINDBODY in a research report on Thursday, July 27th. Finally, Jefferies Group LLC began coverage on shares of MINDBODY in a research report on Thursday, August 24th. They set a “hold” rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.95.
MINDBODY Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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