UBS AG Reiterates Buy Rating for MEGA Brands Inc (MB)

MEGA Brands Inc (NASDAQ:MB)‘s stock had its “buy” rating restated by UBS AG in a report released on Thursday. They presently have a $40.00 price target on the stock, up from their prior price target of $34.00.

A number of other research analysts also recently issued reports on MB. Roth Capital reissued a “buy” rating and set a $31.50 price objective on shares of MEGA Brands in a research report on Thursday, September 28th. BidaskClub raised shares of MEGA Brands from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of MEGA Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, September 27th. KeyCorp reissued a “buy” rating and set a $32.00 price objective on shares of MEGA Brands in a research report on Sunday, October 22nd. Finally, Craig Hallum reissued a “buy” rating and set a $30.00 price objective on shares of MEGA Brands in a research report on Monday, September 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$31.68.

Shares of MEGA Brands (MB) traded up C$0.75 during midday trading on Thursday, hitting C$33.25. 355,495 shares of the company traded hands, compared to its average volume of 502,242. MEGA Brands has a 12 month low of C$19.50 and a 12 month high of C$34.11.

MEGA Brands (NASDAQ:MB) last issued its earnings results on Thursday, October 26th. The company reported C$0.01 EPS for the quarter, topping the consensus estimate of C($0.04) by C$0.05. MEGA Brands had a negative net margin of 7.79% and a negative return on equity of 5.94%. The company had revenue of C$46.60 million for the quarter, compared to the consensus estimate of C$45.59 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis.

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In other news, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of C$31.16, for a total value of C$552,747.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Luxor Capital Group, Lp bought 420,048 shares of MEGA Brands stock in a transaction dated Thursday, September 21st. The stock was acquired at an average cost of C$24.93 per share, for a total transaction of C$10,471,796.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 955,594 shares of company stock worth $25,273,140 and sold 168,717 shares worth $4,684,727.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in MEGA Brands by 2,171.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the company’s stock worth $112,000 after purchasing an additional 3,930 shares in the last quarter. Legal & General Group Plc boosted its stake in MEGA Brands by 4.1% in the 1st quarter. Legal & General Group Plc now owns 4,218 shares of the company’s stock worth $116,000 after purchasing an additional 166 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in MEGA Brands by 49.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the company’s stock worth $137,000 after purchasing an additional 1,678 shares in the last quarter. Quantbot Technologies LP boosted its stake in MEGA Brands by 75.5% in the 2nd quarter. Quantbot Technologies LP now owns 6,902 shares of the company’s stock worth $187,000 after purchasing an additional 2,970 shares in the last quarter. Finally, Credit Suisse AG bought a new position in MEGA Brands in the 1st quarter worth about $220,000.

About MEGA Brands

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.

Analyst Recommendations for MEGA Brands (NASDAQ:MB)

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