Bank of New York Mellon Corp raised its position in Mindbody Inc. (NASDAQ:MB) by 198.0% during the second quarter, Holdings Channel reports. The fund owned 80,389 shares of the company’s stock after buying an additional 53,412 shares during the period. Bank of New York Mellon Corp owned approximately 0.20% of Mindbody worth $1,298,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Strs Ohio purchased a new stake in Mindbody during the second quarter worth $167,000. Geode Capital Management LLC increased its stake in Mindbody by 57.2% in the first quarter. Geode Capital Management LLC now owns 67,153 shares of the company’s stock worth $895,000 after buying an additional 24,444 shares during the period. Royce & Associates LP increased its stake in Mindbody by 159.2% in the first quarter. Royce & Associates LP now owns 68,551 shares of the company’s stock worth $914,000 after buying an additional 42,100 shares during the period. State Street Corp increased its stake in Mindbody by 20.1% in the first quarter. State Street Corp now owns 96,558 shares of the company’s stock worth $1,289,000 after buying an additional 16,172 shares during the period. Finally, Hamilton Lane Advisors LLC purchased a new stake in Mindbody during the second quarter worth $2,235,000. Institutional investors and hedge funds own 38.49% of the company’s stock.
Mindbody Inc. (NASDAQ:MB) traded down 1.78% on Thursday, reaching $17.14. 438,467 shares of the company traded hands. The company’s market capitalization is $680.89 million. Mindbody Inc. has a 52-week low of $9.20 and a 52-week high of $20.83. The stock has a 50-day moving average of $18.10 and a 200 day moving average of $15.88.
Mindbody (NASDAQ:MB) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. The firm had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $33.22 million. Mindbody had a negative net margin of 27.12% and a negative return on equity of 30.95%. The business’s revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. On average, equities analysts forecast that Mindbody Inc. will post ($0.44) EPS for the current year.
A number of equities research analysts have weighed in on the company. JMP Securities lifted their price objective on Mindbody from $19.00 to $25.00 and gave the company a “market outperform” rating in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Mindbody in a report on Thursday, June 16th. Zacks Investment Research downgraded Mindbody from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Morgan Stanley lifted their price objective on Mindbody from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Pacific Crest reiterated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of Mindbody in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $22.14.
In other Mindbody news, CEO Richard Lee Stollmeyer sold 21,760 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $19.44, for a total value of $423,014.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett T. White sold 20,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $19.00, for a total transaction of $380,000.00. The disclosure for this sale can be found here. 30.62% of the stock is currently owned by company insiders.
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
Want to see what other hedge funds are holding MB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mindbody Inc. (NASDAQ:MB).
Receive News & Ratings for Mindbody Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mindbody Inc. and related companies with MarketBeat.com's FREE daily email newsletter.