Qualified Master Fund L. Abdiel Purchases 165,000 Shares of Mindbody Inc. (MB) Stock
Mindbody Inc. (NASDAQ:MB) major shareholder Qualified Master Fund L. Abdiel acquired 165,000 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were acquired at an average price of $19.57 per share, for a total transaction of $3,229,050.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Mindbody Inc. (NASDAQ:MB) opened at 19.66 on Friday. Mindbody Inc. has a 52-week low of $9.20 and a 52-week high of $20.38. The firm’s market cap is $780.99 million. The firm’s 50 day moving average price is $17.64 and its 200 day moving average price is $15.56.
Mindbody (NASDAQ:MB) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. The firm had revenue of $33.60 million for the quarter, compared to the consensus estimate of $33.22 million. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Mindbody Inc. will post ($0.44) EPS for the current fiscal year.
A number of brokerages recently issued reports on MB. Imperial Capital reissued an “outperform” rating and issued a $22.00 target price (up previously from $18.00) on shares of Mindbody in a research report on Friday, July 29th. Roth Capital began coverage on Mindbody in a research report on Friday, September 23rd. They issued a “buy” rating and a $22.50 target price on the stock. KeyCorp lifted their target price on Mindbody from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, September 13th. Pacific Crest lifted their target price on Mindbody from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised Mindbody from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in Mindbody during the second quarter valued at approximately $4,043,000. Schwab Charles Investment Management Inc. bought a new position in Mindbody during the second quarter valued at approximately $356,000. Metropolitan Life Insurance Co. NY bought a new position in Mindbody during the second quarter valued at approximately $179,000. Caisse DE Depot ET Placement DU Quebec increased its position in Mindbody by 37.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 435,000 shares of the company’s stock valued at $7,021,000 after buying an additional 118,225 shares in the last quarter. Finally, Capital World Investors bought a new position in Mindbody during the second quarter valued at approximately $2,401,000. Hedge funds and other institutional investors own 38.49% of the company’s stock.
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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