Gamco Investors INC. ET AL Sells 9,500 Shares of MINDBODY Inc (MB)
Gamco Investors INC. ET AL lowered its position in MINDBODY Inc (NASDAQ:MB) by 44.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,000 shares of the technology company’s stock after selling 9,500 shares during the period. Gamco Investors INC. ET AL’s holdings in MINDBODY were worth $463,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in MINDBODY by 15.3% in the first quarter. Wells Fargo & Company MN now owns 78,315 shares of the technology company’s stock valued at $3,046,000 after acquiring an additional 10,396 shares in the last quarter. SG Americas Securities LLC acquired a new stake in MINDBODY in the first quarter valued at $122,000. Trexquant Investment LP acquired a new stake in MINDBODY in the first quarter valued at $524,000. Prudential Financial Inc. acquired a new stake in MINDBODY in the first quarter valued at $272,000. Finally, AGF Investments Inc. acquired a new stake in MINDBODY in the first quarter valued at $2,225,000. Institutional investors and hedge funds own 96.74% of the company’s stock.
Shares of MB opened at $38.65 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of -128.83 and a beta of -0.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.61 and a quick ratio of 9.61. MINDBODY Inc has a 52-week low of $23.75 and a 52-week high of $45.50.
Several research firms have weighed in on MB. Wells Fargo & Co began coverage on shares of MINDBODY in a research note on Friday. They set an “outperform” rating and a $45.00 target price for the company. Credit Suisse Group lowered their target price on shares of MINDBODY from $41.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, August 1st. Morgan Stanley lowered their target price on shares of MINDBODY from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of MINDBODY to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. MINDBODY currently has an average rating of “Buy” and a consensus price target of $38.38.
In related news, major shareholder Luxor Capital Group, Lp purchased 65,019 shares of MINDBODY stock in a transaction dated Wednesday, August 1st. The stock was acquired at an average cost of $34.86 per share, with a total value of $2,266,562.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was 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 56,618 shares of company stock valued at $2,080,684 over the last ninety days. Insiders own 6.02% of the company’s stock.
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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