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.
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