MINDBODY (MB) Stock Price Down 5.4% Following Insider Selling

Shares of MINDBODY, Inc. (NASDAQ:MB) traded down 5.4% on Tuesday following insider selling activity. The company traded as low as $29.70 and last traded at $29.80. 617,800 shares traded hands during trading, an increase of 42% from the average session volume of 434,924 shares. The stock had previously closed at $31.50.

Specifically, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.95, for a total value of $566,761.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 955,594 shares of company stock worth $25,273,140 and sold 178,717 shares worth $5,260,296. Company insiders own 8.22% of the company’s stock.

Several analysts have issued reports on MB shares. UBS restated a “buy” rating and issued a $40.00 price target (up from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Roth Capital restated a “buy” rating and issued a $31.50 price target on shares of MINDBODY in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. BidaskClub upgraded shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, KeyCorp upgraded shares of MINDBODY from a “sector weight” rating to an “overweight” rating and raised their price target for the stock from $16.95 to $32.00 in a research report on Friday, September 22nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.54.

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 (NASDAQ:MB) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The firm had revenue of $46.60 million during the quarter, compared to the consensus estimate of $45.59 million. During the same period last year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. research analysts forecast that MINDBODY, Inc. will post -0.31 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its position in shares of MINDBODY by 2,171.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock worth $112,000 after buying an additional 3,930 shares during the period. Legal & General Group Plc grew its position in shares of MINDBODY by 4.1% during the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock worth $116,000 after buying an additional 166 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of MINDBODY by 49.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock worth $137,000 after buying an additional 1,678 shares during the period. Quantbot Technologies LP grew its position in shares of MINDBODY by 75.5% during the 2nd quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock worth $187,000 after buying an additional 2,970 shares during the period. Finally, Credit Suisse AG acquired a new stake in shares of MINDBODY during the 1st quarter worth approximately $220,000. 90.16% of the stock is owned by institutional investors.

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About MINDBODY

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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