Cambridge Investment Research Advisors Inc. Takes Position in MINDBODY Inc (MB)
Cambridge Investment Research Advisors Inc. purchased a new position in shares of MINDBODY Inc (NASDAQ:MB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,669 shares of the technology company’s stock, valued at approximately $1,145,000. Cambridge Investment Research Advisors Inc. owned about 0.06% of MINDBODY as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in MINDBODY in the 1st quarter valued at approximately $122,000. Sei Investments Co. purchased a new stake in MINDBODY in the 1st quarter valued at approximately $143,000. Nwam LLC purchased a new stake in MINDBODY in the 2nd quarter valued at approximately $205,000. Amalgamated Bank purchased a new stake in MINDBODY in the 1st quarter valued at approximately $223,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in MINDBODY in the 1st quarter valued at approximately $223,000. 96.83% of the stock is currently owned by hedge funds and other institutional investors.
MB stock opened at $39.05 on Friday. MINDBODY Inc has a 12-month low of $23.75 and a 12-month high of $45.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.61 and a quick ratio of 9.61. The company has a market cap of $1.88 billion, a PE ratio of -130.17 and a beta of -0.19.
In related news, President Michael Joseph Mansbach sold 3,705 shares of MINDBODY stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $130,601.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $38.96, for a total value of $691,111.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,055 shares of company stock valued at $2,444,480. Insiders own 6.02% of the company’s stock.
A number of brokerages have weighed in on MB. Zacks Investment Research raised MINDBODY from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. ValuEngine upgraded shares of MINDBODY from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. TheStreet upgraded shares of MINDBODY from a “d+” rating to a “c” rating in a research report on Monday, June 18th. BidaskClub upgraded shares of MINDBODY from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wells Fargo & Co started coverage on shares of MINDBODY in a research report on Friday, September 7th. They set an “outperform” rating and a $45.00 price target for the company. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. MINDBODY presently has a consensus rating of “Buy” and an average price target of $38.38.
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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