MINDBODY (MB) Downgraded to Neutral at UBS Group
UBS Group lowered shares of MINDBODY (NASDAQ:MB) from a buy rating to a neutral rating in a report released on Wednesday morning, The Fly reports.
A number of other equities analysts have also recently weighed in on MB. DA Davidson upped their price target on MINDBODY to $48.00 and gave the stock a buy rating in a report on Wednesday, September 19th. Credit Suisse Group reduced their price target on MINDBODY from $41.00 to $38.00 and set a neutral rating for the company in a report on Wednesday, August 1st. Wells Fargo & Co assumed coverage on MINDBODY in a report on Friday, September 7th. They issued an outperform rating and a $45.00 price target for the company. William Blair assumed coverage on MINDBODY in a report on Wednesday, September 26th. They issued a market perform rating for the company. Finally, BidaskClub cut MINDBODY from a strong-buy rating to a buy rating in a report on Thursday, October 11th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. MINDBODY currently has a consensus rating of Hold and an average target price of $33.70.
Shares of MB stock traded down $0.18 on Wednesday, hitting $26.82. The company had a trading volume of 1,246,871 shares, compared to its average volume of 1,253,458. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.61 and a quick ratio of 9.61. MINDBODY has a twelve month low of $24.75 and a twelve month high of $45.50.
In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $32.98, for a total transaction of $585,032.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Luxor Capital Group, Lp acquired 144,100 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were purchased at an average price of $33.51 per share, with a total value of $4,828,791.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 127,809 shares of company stock valued at $4,430,896. 6.02% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Nelson Roberts Investment Advisors LLC grew its position in shares of MINDBODY by 1.1% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 123,901 shares of the technology company’s stock valued at $4,783,000 after purchasing an additional 1,325 shares in the last quarter. Rhumbline Advisers grew its position in MINDBODY by 4.4% in the second quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after acquiring an additional 1,737 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in MINDBODY by 6.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after acquiring an additional 1,774 shares during the period. JPMorgan Chase & Co. grew its position in MINDBODY by 13.9% in the third quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after acquiring an additional 1,872 shares during the period. Finally, Arthur M. Cohen & Associates LLC grew its position in MINDBODY by 27.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 98.86% of the company’s stock.
MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.
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