Granite Point Capital Management L.P. boosted its holdings in shares of MINDBODY, Inc. (NASDAQ:MB) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,200 shares of the technology company’s stock after purchasing an additional 5,900 shares during the quarter. MINDBODY makes up 0.6% of Granite Point Capital Management L.P.’s holdings, making the stock its 15th largest position. Granite Point Capital Management L.P. owned about 0.24% of MINDBODY worth $2,900,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MB. Legal & General Group Plc raised its holdings in shares of MINDBODY by 4.1% during 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of MINDBODY by 19.4% during the first quarter. Vanguard Group Inc. now owns 904,161 shares of the technology company’s stock valued at $24,820,000 after acquiring an additional 146,816 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of MINDBODY by 15.9% during the first quarter. Geode Capital Management LLC now owns 169,238 shares of the technology company’s stock valued at $4,645,000 after acquiring an additional 23,176 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of MINDBODY by 27.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 28,000 shares of the technology company’s stock valued at $769,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of MINDBODY by 5.2% during the first quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock valued at $979,000 after acquiring an additional 1,762 shares during the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.
MB has been the subject of a number of research analyst reports. DA Davidson initiated coverage on MINDBODY in a report on Wednesday, November 15th. They set a “buy” rating and a $42.00 target price for the company. KeyCorp raised MINDBODY from a “sector weight” rating to an “overweight” rating and increased their price target for the company from $16.95 to $32.00 in a report on Friday, September 22nd. Jefferies Group assumed coverage on MINDBODY in a report on Thursday, August 24th. They issued a “hold” rating and a $26.00 price target for the company. UBS reaffirmed a “buy” rating and issued a $40.00 price target (up previously from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Finally, Zacks Investment Research cut MINDBODY from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.54.
MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate 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 business had revenue of $46.60 million during the quarter, compared to analyst estimates of $45.59 million. During the same period last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 32.0% on a year-over-year basis. sell-side analysts anticipate that MINDBODY, Inc. will post -0.31 earnings per share for the current fiscal year.
In related news, CFO Brett T. White sold 10,000 shares of MINDBODY stock in a transaction on Friday, December 1st. The stock was sold at an average price of $31.94, for a total value of $319,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Luxor Capital Group, Lp bought 420,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was bought at an average price of $24.93 per share, with a total value of $10,471,796.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 955,594 shares of company stock valued at $25,273,140 and have sold 178,717 shares valued at $5,260,296. Company insiders own 8.22% of the company’s stock.
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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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