Legal & General Group Plc Increases Holdings in MINDBODY, Inc. (MB)
Legal & General Group Plc boosted its holdings in shares of MINDBODY, Inc. (NASDAQ:MB) by 121.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,340 shares of the technology company’s stock after acquiring an additional 5,122 shares during the quarter. Legal & General Group Plc’s holdings in MINDBODY were worth $254,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP lifted its holdings in shares of MINDBODY by 96.3% during the 1st quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after buying an additional 1,929 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of MINDBODY during the 1st quarter valued at about $220,000. American International Group Inc. lifted its holdings in shares of MINDBODY by 7.1% during the 1st quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock valued at $244,000 after buying an additional 588 shares during the last quarter. Arthur M. Cohen & Associates LLC acquired a new stake in shares of MINDBODY during the 2nd quarter valued at about $235,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of MINDBODY during the 1st quarter valued at about $311,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.
Several equities research analysts have recently issued reports on MB shares. Zacks Investment Research upgraded MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, September 27th. Craig Hallum reiterated a “buy” rating and set a $30.00 price target on shares of MINDBODY in a report on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of MINDBODY in a report on Thursday, July 27th. Jefferies Group LLC started coverage on MINDBODY in a report on Thursday, August 24th. They set a “hold” rating and a $26.00 price target for the company. Finally, BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.95.
MINDBODY, Inc. (NASDAQ:MB) opened at 27.85 on Wednesday. MINDBODY, Inc. has a 52 week low of $16.95 and a 52 week high of $28.40. The company has a 50 day moving average price of $26.07 and a 200-day moving average price of $26.07. The company’s market capitalization is $1.29 billion.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. MINDBODY had a negative return on equity of 12.49% and a negative net margin of 11.34%. The firm had revenue of $44.10 million during the quarter, compared to analysts’ expectations of $44.11 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, equities analysts anticipate that MINDBODY, Inc. will post ($0.09) earnings per share for the current fiscal year.
In related news, CFO Brett T. White sold 10,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $25.87, for a total transaction of $258,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $23.71, for a total value of $420,591.69. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 872,572 shares of company stock valued at $22,952,675 and have sold 83,217 shares valued at $2,101,466. Corporate insiders own 8.22% of the company’s stock.
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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