Penn Capital Management Co. Inc. lessened its stake in MINDBODY Inc (NASDAQ:MB) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 462,908 shares of the technology company’s stock after selling 5,204 shares during the quarter. MINDBODY makes up 1.0% of Penn Capital Management Co. Inc.’s holdings, making the stock its 26th biggest position. Penn Capital Management Co. Inc. owned about 0.99% of MINDBODY worth $14,116,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of MINDBODY by 2.0% in the 4th quarter. BlackRock Inc. now owns 2,460,372 shares of the technology company’s stock valued at $74,917,000 after buying an additional 48,837 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in MINDBODY by 19.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,725,271 shares of the technology company’s stock valued at $52,535,000 after purchasing an additional 283,575 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MINDBODY by 67.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock valued at $41,109,000 after purchasing an additional 607,182 shares during the last quarter. State Street Corp lifted its holdings in MINDBODY by 151.3% during the 2nd quarter. State Street Corp now owns 620,907 shares of the technology company’s stock valued at $16,885,000 after purchasing an additional 373,828 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in MINDBODY by 3.2% during the 3rd quarter. Jennison Associates LLC now owns 590,469 shares of the technology company’s stock valued at $15,264,000 after purchasing an additional 18,411 shares during the last quarter. 91.01% of the stock is owned by institutional investors.
MINDBODY Inc (NASDAQ MB) opened at $32.80 on Friday. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1,548.10, a price-to-earnings ratio of -86.32 and a beta of -0.08. MINDBODY Inc has a 12-month low of $21.57 and a 12-month high of $36.25.
In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $31.95, for a total value of $566,761.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Luxor Capital Group, Lp purchased 43,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $31.36 per share, for a total transaction of $1,348,480.00. The disclosure for this purchase can be found here. Insiders have sold a total of 92,348 shares of company stock worth $2,883,809 in the last quarter. Company insiders own 8.22% of the company’s stock.
Several brokerages have issued reports on MB. KeyCorp reaffirmed a “buy” rating and set a $32.00 price target on shares of MINDBODY in a report on Sunday, October 22nd. BidaskClub raised MINDBODY from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Jefferies Group raised MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Monday, January 8th. DA Davidson began coverage on MINDBODY in a report on Wednesday, November 15th. They set a “buy” rating and a $42.00 price target for the company. Finally, Morgan Stanley raised their price target on MINDBODY from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.32.
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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