Mindbody Inc. (NASDAQ:MB) major shareholder Qualified Master Fund L. Abdiel bought 500,000 shares of Mindbody stock in a transaction dated Tuesday, October 11th. The shares were acquired at an average cost of $18.22 per share, for a total transaction of $9,110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Mindbody Inc. (NASDAQ:MB) opened at 17.70 on Wednesday. The company’s market capitalization is $703.13 million. The firm has a 50-day moving average price of $18.10 and a 200 day moving average price of $16.02. Mindbody Inc. has a 12-month low of $9.20 and a 12-month high of $20.83.
Mindbody (NASDAQ:MB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business earned $33.60 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the company earned ($0.21) EPS. On average, equities research analysts predict that Mindbody Inc. will post ($0.44) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in shares of Mindbody by 88.8% in the second quarter. American International Group Inc. now owns 8,293 shares of the company’s stock worth $134,000 after buying an additional 3,900 shares in the last quarter. Strs Ohio acquired a new stake in shares of Mindbody during the second quarter worth about $167,000. Alliancebernstein L.P. acquired a new stake in shares of Mindbody during the second quarter worth about $179,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Mindbody during the second quarter worth about $179,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Mindbody during the second quarter worth about $200,000. 38.52% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on MB shares. Roth Capital set a $23.00 target price on Mindbody and gave the company a “buy” rating in a research note on Monday, October 10th. Zacks Investment Research raised Mindbody from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, September 28th. Pacific Crest reaffirmed a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Mindbody in a research note on Tuesday, September 13th. Morgan Stanley upped their price target on Mindbody from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Finally, JMP Securities upped their price target on Mindbody from $19.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $22.14.
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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