Mindbody Inc. (MB) Major Shareholder Acquires $3,229,050.00 in Stock
Mindbody Inc. (NASDAQ:MB) major shareholder Qualified Master Fund L. Abdiel acquired 165,000 shares of Mindbody stock in a transaction that occurred on Thursday, September 29th. The stock was bought at an average price of $19.57 per share, with a total value of $3,229,050.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Mindbody Inc. (NASDAQ:MB) opened at 19.66 on Friday. The firm’s 50-day moving average is $17.64 and its 200-day moving average is $15.56. The firm’s market cap is $780.99 million. Mindbody Inc. has a 12 month low of $9.20 and a 12 month high of $20.38.
Mindbody (NASDAQ:MB) last issued its earnings results on Wednesday, July 27th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm earned $33.60 million during the quarter, compared to analysts’ expectations of $33.22 million. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. Mindbody’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. Equities analysts expect that Mindbody Inc. will post ($0.44) earnings per share for the current year.
MB has been the subject of several recent analyst reports. Roth Capital initiated coverage on shares of Mindbody in a research note on Friday, September 23rd. They issued a “buy” rating and a $22.50 price objective for the company. Imperial Capital reiterated an “outperform” rating and issued a $22.00 price objective (up previously from $18.00) on shares of Mindbody in a research note on Friday, July 29th. Pacific Crest lifted their target price on shares of Mindbody from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. KeyCorp lifted their target price on shares of Mindbody from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Mindbody in a research report on Thursday, June 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Mindbody has a consensus rating of “Buy” and a consensus price target of $22.07.
Hedge funds and other institutional investors have recently modified their holdings of the company. Airain ltd purchased a new position in shares of Mindbody during the second quarter valued at approximately $223,000. Granite Point Capital Management L.P. purchased a new position in shares of Mindbody during the second quarter valued at approximately $1,948,000. Emerald Acquisition Ltd. purchased a new position in shares of Mindbody during the second quarter valued at approximately $243,000. California State Teachers Retirement System boosted its position in shares of Mindbody by 97.3% in the second quarter. California State Teachers Retirement System now owns 30,207 shares of the company’s stock valued at $488,000 after buying an additional 14,899 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Mindbody by 198.0% in the second quarter. Bank of New York Mellon Corp now owns 80,389 shares of the company’s stock valued at $1,298,000 after buying an additional 53,412 shares during the period. 38.49% of the stock is owned by hedge funds and other institutional investors.
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 over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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