MINDBODY (MB) Lowered to Buy at BidaskClub
MINDBODY (NASDAQ:MB) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
Several other equities analysts have also recently issued reports on the stock. KeyCorp restated a “buy” rating and set a $32.00 target price on shares of MINDBODY in a research note on Sunday, October 22nd. Roth Capital restated a “buy” rating and set a $31.50 target price on shares of MINDBODY in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, September 27th. Craig Hallum reiterated a “buy” rating and issued a $30.00 price objective on shares of MINDBODY in a research note on Monday, September 25th. Finally, DA Davidson initiated coverage on shares of MINDBODY in a research note on Wednesday, November 15th. They issued a “buy” rating and a $42.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MINDBODY currently has a consensus rating of “Buy” and an average target price of $32.54.
Shares of MINDBODY (NASDAQ MB) traded down $0.45 during midday trading on Thursday, reaching $30.15. 446,888 shares of the company’s stock traded hands, compared to its average volume of 433,914. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.20 and a quick ratio of 9.20. MINDBODY has a 1-year low of $19.65 and a 1-year high of $36.25.
In other MINDBODY news, major shareholder Luxor Capital Group, Lp bought 420,048 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was acquired at an average cost of $24.93 per share, for a total transaction of $10,471,796.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of MINDBODY stock in a transaction on Monday, November 27th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 955,594 shares of company stock valued at $25,273,140 and sold 178,717 shares valued at $5,260,296. Company insiders own 8.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in MINDBODY by 2,171.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after purchasing an additional 3,930 shares during the last quarter. Legal & General Group Plc grew its stake in MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after purchasing an additional 166 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in MINDBODY by 49.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after purchasing an additional 1,678 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of MINDBODY by 75.5% during the second quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock worth $187,000 after acquiring an additional 2,970 shares during the last quarter. Finally, Credit Suisse AG purchased a new stake in shares of MINDBODY during the first quarter worth about $220,000. Institutional investors and hedge funds own 90.16% of the company’s stock.
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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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