MINDBODY (MB) Coverage Initiated by Analysts at William Blair

Investment analysts at William Blair initiated coverage on shares of MINDBODY (NASDAQ:MB) in a research report issued on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the technology company’s stock.

Several other analysts have also commented on MB. TheStreet raised shares of MINDBODY from a “d+” rating to a “c” rating in a research note on Monday, June 18th. Zacks Investment Research raised shares of MINDBODY from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. ValuEngine raised shares of MINDBODY from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. KeyCorp restated a “buy” rating and set a $47.00 price target on shares of MINDBODY in a report on Wednesday, August 1st. Finally, BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.54.

MB stock opened at $43.85 on Wednesday. MINDBODY has a 12 month low of $25.40 and a 12 month high of $45.50. The company has a market cap of $2.03 billion, a P/E ratio of -146.17 and a beta of -0.19. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86.

MINDBODY (NASDAQ:MB) last released its earnings results on Tuesday, July 31st. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). MINDBODY had a negative net margin of 11.85% and a negative return on equity of 6.83%. The business had revenue of $61.61 million for the quarter, compared to analyst estimates of $60.48 million. equities analysts predict that MINDBODY will post -0.62 earnings per share for the current fiscal year.

In other MINDBODY news, President Michael Joseph Mansbach sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $130,601.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $38.96, for a total transaction of $691,111.44. The disclosure for this sale can be found here. Insiders have sold 66,055 shares of company stock worth $2,444,480 in the last 90 days. 6.02% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in MB. Massachusetts Financial Services Co. MA acquired a new position in MINDBODY in the 2nd quarter valued at approximately $25,087,000. Voya Investment Management LLC grew its position in MINDBODY by 3,432.0% in the second quarter. Voya Investment Management LLC now owns 595,206 shares of the technology company’s stock worth $22,975,000 after acquiring an additional 578,354 shares in the last quarter. Summit Trail Advisors LLC grew its position in MINDBODY by 3,560.0% in the first quarter. Summit Trail Advisors LLC now owns 594,494 shares of the technology company’s stock worth $594,000 after acquiring an additional 578,251 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in MINDBODY in the first quarter worth approximately $16,068,000. Finally, KAMES CAPITAL plc grew its position in MINDBODY by 570.5% in the second quarter. KAMES CAPITAL plc now owns 317,309 shares of the technology company’s stock worth $12,248,000 after acquiring an additional 269,983 shares in the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.

About MINDBODY

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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The Fly

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