Teachers Advisors LLC increased its holdings in shares of Mindbody Inc. (NASDAQ:MB) by 27.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 89,124 shares of the technology company’s stock after acquiring an additional 18,973 shares during the period. Teachers Advisors LLC’s holdings in Mindbody were worth $2,714,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MB. Nationwide Fund Advisors grew its stake in Mindbody by 8.7% during the third quarter. Nationwide Fund Advisors now owns 22,669 shares of the technology company’s stock worth $586,000 after purchasing an additional 1,814 shares during the period. New York State Common Retirement Fund grew its stake in Mindbody by 9.3% in the third quarter. New York State Common Retirement Fund now owns 287,782 shares of the technology company’s stock valued at $7,439,000 after acquiring an additional 24,556 shares during the period. American International Group Inc. grew its stake in Mindbody by 23.5% in the third quarter. American International Group Inc. now owns 28,241 shares of the technology company’s stock valued at $730,000 after acquiring an additional 5,380 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Mindbody by 153.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 155,065 shares of the technology company’s stock valued at $4,009,000 after acquiring an additional 93,865 shares during the period. Finally, California State Teachers Retirement System grew its stake in Mindbody by 4.2% in the third quarter. California State Teachers Retirement System now owns 68,032 shares of the technology company’s stock valued at $1,759,000 after acquiring an additional 2,725 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Luxor Capital Group, Lp bought 147,189 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were bought at an average price of $36.56 per share, for a total transaction of $5,381,229.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Lee Stollmeyer sold 13,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $40.57, for a total value of $551,752.00. The disclosure for this sale can be found here. In the last 90 days, insiders bought 234,777 shares of company stock worth $8,298,316 and sold 177,836 shares worth $6,569,497. 8.22% of the stock is owned by company insiders.
MB stock opened at $37.25 on Friday. Mindbody Inc. has a twelve month low of $21.57 and a twelve month high of $43.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.66 and a current ratio of 8.66. The company has a market capitalization of $1,812.53, a PE ratio of -124.17 and a beta of -0.10.
Mindbody (NASDAQ:MB) last posted its earnings results on Wednesday, February 21st. The technology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Mindbody had a negative return on equity of 6.29% and a negative net margin of 8.10%. The company had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.96 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. equities research analysts anticipate that Mindbody Inc. will post -0.12 EPS for the current fiscal year.
A number of equities research analysts have commented on MB shares. Summit Insights started coverage on Mindbody in a research note on Wednesday, March 7th. They issued a “buy” rating for the company. BidaskClub raised Mindbody from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. KeyCorp reissued a “buy” rating and issued a $41.00 price objective (up previously from $34.00) on shares of Mindbody in a research note on Monday, January 22nd. Jefferies Group raised Mindbody from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, January 8th. Finally, Craig Hallum reissued a “buy” rating and issued a $40.00 price objective (up previously from $32.00) on shares of Mindbody in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $37.63.
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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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