MINDBODY (MB) Shares Down 5.4% Following Insider Selling

MINDBODY, Inc. (NASDAQ:MB) shares 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, major shareholder Luxor Capital Group, Lp purchased 420,048 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were acquired at an average cost of $24.93 per share, with a total value of $10,471,796.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett T. White sold 10,000 shares of MINDBODY stock in a transaction on Friday, December 1st. The stock was sold at an average price of $31.94, for a total transaction of $319,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 955,594 shares of company stock worth $25,273,140 and sold 178,717 shares worth $5,260,296. 8.22% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on MB. KeyCorp raised shares of 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. BidaskClub lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a report on Monday, September 18th. UBS reissued a “buy” rating and set 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 set a $31.50 price objective on shares of MINDBODY in a report on Thursday, September 28th. Finally, Jefferies Group began coverage on shares of MINDBODY in a report on Thursday, August 24th. They set a “hold” rating and a $26.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $32.54.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.20 and a current ratio of 9.20.

MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 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 company had revenue of $46.60 million for the quarter, compared to analyst estimates of $45.59 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The firm’s revenue was up 32.0% on a year-over-year basis. equities analysts anticipate that MINDBODY, Inc. will post -0.31 earnings per share for the current year.

A number of large investors have recently bought and sold shares of MB. FMR LLC boosted its holdings in MINDBODY by 481.5% in the second quarter. FMR LLC now owns 3,150,890 shares of the technology company’s stock valued at $85,705,000 after purchasing an additional 2,609,059 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in MINDBODY in the second quarter valued at $37,529,000. Vanguard Group Inc. boosted its holdings in MINDBODY by 67.2% in the second 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 boosted its holdings in MINDBODY by 151.3% in the second 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, Renaissance Technologies LLC boosted its holdings in MINDBODY by 44.2% in the second quarter. Renaissance Technologies LLC now owns 1,110,900 shares of the technology company’s stock valued at $30,216,000 after purchasing an additional 340,300 shares during the last quarter. 90.16% of the stock is currently 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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