MINDBODY (MB) Upgraded to “Buy” at Jefferies Group
Jefferies Group upgraded shares of MINDBODY (NASDAQ:MB) from a hold rating to a buy rating in a report published on Monday morning, MarketBeat Ratings reports. They currently have $26.00 price objective on the technology company’s stock.
Several other brokerages have also weighed in on MB. UBS Group reissued a buy rating and issued a $40.00 price objective (up from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Roth Capital reissued a buy rating and issued a $31.50 price objective on shares of MINDBODY in a report on Thursday, September 28th. Zacks Investment Research lowered MINDBODY from a buy rating to a hold rating in a report on Wednesday, November 1st. BidaskClub lowered MINDBODY from a buy rating to a hold rating in a report on Monday, September 18th. Finally, KeyCorp raised MINDBODY from a sector weight rating to an overweight rating and boosted their price objective for the company from $16.95 to $32.00 in a report on Friday, September 22nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. MINDBODY currently has an average rating of Buy and a consensus price target of $32.54.
MINDBODY (MB) opened at $32.25 on Monday. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06. MINDBODY has a one year low of $21.57 and a one year high of $36.25. The company has a market capitalization of $1,510.00 and a PE ratio of -87.16.
In related news, major shareholder Luxor Capital Group, Lp bought 83,022 shares of the stock in a transaction dated Monday, October 16th. The stock was bought at an average cost of $27.95 per share, with a total value of $2,320,464.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were 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. Insiders have sold 175,087 shares of company stock valued at $5,317,856 over the last ninety days. Corporate insiders own 8.22% of the company’s stock.
Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System grew its holdings in shares of MINDBODY by 26.3% during the third quarter. California Public Employees Retirement System now owns 16,926 shares of the technology company’s stock valued at $438,000 after purchasing an additional 3,526 shares during the last quarter. Davidson Kempner Capital Management LP bought a new position in MINDBODY in the 3rd quarter worth approximately $4,575,000. Granahan Investment Management Inc. MA grew its holdings in MINDBODY by 13.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 446,766 shares of the technology company’s stock worth $11,549,000 after buying an additional 52,521 shares in the last quarter. Granite Point Capital Management L.P. grew its holdings in MINDBODY by 5.6% in the 3rd quarter. Granite Point Capital Management L.P. now owns 112,200 shares of the technology company’s stock worth $2,900,000 after buying an additional 5,900 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in MINDBODY by 7.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 199,077 shares of the technology company’s stock worth $5,146,000 after buying an additional 14,250 shares in the last quarter. 90.14% of the stock is owned by institutional investors.
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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 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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