MINDBODY (MB) Trading Down 5.4% on Insider Selling

MINDBODY, Inc. (NASDAQ:MB) shares fell 5.4% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $29.70 and last traded at $29.80. 617,800 shares were traded during mid-day trading, an increase of 42% from the average session volume of 434,924 shares. The stock had previously closed at $31.50.

Specifically, major shareholder Luxor Capital Group, Lp acquired 111,445 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was bought at an average cost of $26.45 per share, for a total transaction of $2,947,720.25. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett T. White sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $31.94, for a total value of $319,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 955,594 shares of company stock valued at $25,273,140 and sold 160,978 shares valued at $4,693,535. Corporate insiders own 8.22% of the company’s stock.

Several research firms have commented on MB. KeyCorp upgraded MINDBODY from a “sector weight” rating to an “overweight” rating and boosted their price objective for the stock from $16.95 to $32.00 in a research note on Friday, September 22nd. BidaskClub lowered MINDBODY from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. UBS restated a “buy” rating and issued a $40.00 price target (up from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Roth Capital restated a “buy” rating and issued a $31.50 price target on shares of MINDBODY in a research report on Thursday, September 28th. Finally, Jefferies Group initiated coverage on MINDBODY in a research report on Thursday, August 24th. They issued a “hold” rating and a $26.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MINDBODY currently has a consensus rating of “Buy” and an average target price of $32.54.

The company has a debt-to-equity ratio of 0.06, a current ratio of 9.20 and a quick ratio of 9.20.

MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The company had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 32.0% compared to the same quarter last year. sell-side analysts anticipate that MINDBODY, Inc. will post -0.31 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of MINDBODY by 2,171.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock valued at $112,000 after acquiring an additional 3,930 shares in the last quarter. Legal & General Group Plc raised its stake in shares of MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after acquiring an additional 166 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of MINDBODY by 49.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,678 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of MINDBODY by 75.5% in the second quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock valued at $187,000 after acquiring an additional 2,970 shares in the last quarter. Finally, Credit Suisse AG acquired a new stake in shares of MINDBODY in the first quarter valued at $220,000. Institutional investors and hedge funds own 90.16% of the company’s stock.

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About MINDBODY

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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