85,795 Shares in MINDBODY Inc (MB) Purchased by Osterweis Capital Management Inc.
Osterweis Capital Management Inc. acquired a new stake in shares of MINDBODY Inc (NASDAQ:MB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 85,795 shares of the technology company’s stock, valued at approximately $3,488,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers grew its position in MINDBODY by 4.4% in the second quarter. Rhumbline Advisers now owns 41,030 shares of the technology company’s stock worth $1,584,000 after acquiring an additional 1,737 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in MINDBODY by 6.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,443 shares of the technology company’s stock worth $1,278,000 after acquiring an additional 1,774 shares in the last quarter. JPMorgan Chase & Co. grew its position in MINDBODY by 13.9% in the third quarter. JPMorgan Chase & Co. now owns 15,345 shares of the technology company’s stock worth $624,000 after acquiring an additional 1,872 shares in the last quarter. Nelson Roberts Investment Advisors LLC grew its position in MINDBODY by 2.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 126,346 shares of the technology company’s stock worth $5,136,000 after acquiring an additional 2,445 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its position in MINDBODY by 27.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,500 shares of the technology company’s stock worth $444,000 after acquiring an additional 2,500 shares in the last quarter.
Several analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of MINDBODY from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $48.00 to $31.00 in a research report on Wednesday, November 7th. Morgan Stanley set a $30.00 target price on shares of MINDBODY and gave the stock a “hold” rating in a research report on Thursday, November 8th. ValuEngine downgraded shares of MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. KeyCorp reissued a “buy” rating and issued a $38.00 target price on shares of MINDBODY in a research report on Wednesday, November 7th. Finally, BidaskClub raised shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. MINDBODY presently has a consensus rating of “Hold” and a consensus price target of $33.70.
Shares of MINDBODY stock opened at $26.43 on Thursday. The company has a quick ratio of 9.45, a current ratio of 9.45 and a debt-to-equity ratio of 0.89. MINDBODY Inc has a 1-year low of $23.02 and a 1-year high of $45.50. The firm has a market capitalization of $1.28 billion, a PE ratio of -88.08 and a beta of 0.31.
MINDBODY (NASDAQ:MB) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.15%. The business had revenue of $63.80 million during the quarter, compared to analysts’ expectations of $63.99 million. During the same period in the previous year, the company earned $0.01 earnings per share. MINDBODY’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, analysts anticipate that MINDBODY Inc will post -0.67 EPS for the current year.
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MINDBODY Company Profile
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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