MINDBODY (NASDAQ:MB)‘s stock had its “overweight” rating reaffirmed by analysts at KeyCorp in a research report issued to clients and investors on Tuesday. They currently have a $47.00 target price on the technology company’s stock, up from their previous target price of $41.00. KeyCorp’s target price would suggest a potential upside of 14.36% from the stock’s current price.
MB has been the topic of several other research reports. 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. Jefferies Group raised shares of MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Monday, January 8th. BidaskClub cut shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Craig Hallum reaffirmed a “buy” rating and set a $40.00 price target (up previously from $32.00) on shares of MINDBODY in a research report on Thursday, February 22nd. Finally, Summit Insights initiated coverage on shares of MINDBODY in a research report on Wednesday, March 7th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $37.63.
Shares of MINDBODY (NASDAQ:MB) traded down $0.15 during trading on Tuesday, hitting $41.10. 206,425 shares of the company traded hands, compared to its average volume of 415,289. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.06. MINDBODY has a one year low of $21.57 and a one year high of $43.45. The company has a market capitalization of $1,930.00 and a PE ratio of -128.91.
In related news, major shareholder Luxor Capital Group, Lp acquired 43,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $31.36 per share, with a total value of $1,348,480.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Lee Stollmeyer sold 17,741 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $30.30, for a total transaction of $537,552.30. The disclosure for this sale can be found here. In the last three months, insiders have bought 234,777 shares of company stock worth $8,298,316 and have sold 144,238 shares worth $5,132,005. 8.22% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MB. Luxor Capital Group LP raised its holdings in shares of MINDBODY by 8.7% in the 4th quarter. Luxor Capital Group LP now owns 6,220,410 shares of the technology company’s stock worth $189,411,000 after acquiring an additional 498,724 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of MINDBODY in the 4th quarter worth about $609,000. Gotham Asset Management LLC acquired a new stake in shares of MINDBODY in the 4th quarter worth about $253,000. Millennium Management LLC raised its holdings in shares of MINDBODY by 90.9% in the 4th quarter. Millennium Management LLC now owns 728,570 shares of the technology company’s stock worth $22,185,000 after acquiring an additional 346,862 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of MINDBODY by 27.0% in the 4th quarter. Teachers Advisors LLC now owns 89,124 shares of the technology company’s stock worth $2,714,000 after acquiring an additional 18,973 shares during the last quarter. 89.44% of the stock is currently owned by institutional investors.
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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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