The stock is trading at $32.55 which is quite a bit above the 50 day moving average of $27.17 and impressively higher than the 200 day moving average of $27.17. The 50 day moving average went up $5.38 or +19.78% and the 200 day average moved up $5.38. (NASDAQ:MB) shares saw heavy trading volume with 2,081K shares changing hands on Tuesday. Volume was up 161.76% over the stocks average daily volume.
Investors are a little more bearish on shares of the company looking at the rise in short interest. The company saw a rise in short interest of 1.13% between September 15, 2017 and September 29, 2017. Short interest grew from 5,923,633 to 5,990,554 over that timeframe. With short interest at 5,990,554 and short average daily volume at 451,069, days to cover is 13.0 and the short interest percentage is 0.14% as of September 29.
There has been some selling insider activity on MINDBODY, Inc. (NASDAQ:MB) recently. Kimberly Gail Lytikainen, Chief Legal Officer &Secretary sold $853,695 worth of shares at an average price of $27.99 on Mon the 9th. That brings the Chief Legal Officer &Secretary’s holdings to $864,723 as reported to the SEC. Brett T. White, CFO sold $240,000 worth of shares at an average price of $24.00 on September 5th. That brings White’s holdings to $2,340,984 as recorded in a recent Form 4 SEC filing.
A few notable investment firms have updated their holdings. Baillie Gifford & Co bolstered its stake by buying 15,603 shares an increase of 22.8% in the quarter. Baillie Gifford & Co now holds 84,003 shares valued at $2,171,000. The total value of its holdings increased 16.7%. As of quarter end Boston Advisors LLC had disposed of 560 shares trimming its stake by 2.0%. The value of the investment in MINDBODY, Inc. went from $752,000 to $700,000 a change of 6.9% since the last quarter.
As of the end of the quarter Nationwide Fund Advisors had bought a total of 1,814 shares growing its position 8.7%. The value in dollars increased from $567,000 to $586,000 a change of $19,000 quarter over quarter. As of the end of the quarter Victory Capital Management Inc had acquired 39,530 shares growing its holdings by 25.4%. The value of the company’s investment in MINDBODY, Inc. went from $4,239,000 to $5,051,000 increasing 19.2% for the reporting period.
Equity analyst Jefferies started coverage giving it an initial rating of “Hold”. On September 22 the stock rating was upgraded from “Overweight” to “Overweight” in a report issued by KeyBanc.
In the last earnings report the EPS was $-0.44 and is estimated to be $-0.03 for the current year with 46,356,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.03 with next year’s EPS projected to be $0.18.
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 client scheduling and online booking, staff management, client relationship management, integrated software and payments, retail point-of-sale, analytics and reporting, simple and intuitive user experience, mobility, social integration, cloud-based architecture, open platform for third-party application development, security and compliance, and integration with other cloud-based partners for yoga, Pilates, barre, indoor cycling, personal training, martial arts, and dance exercise, spas, salons, music instruction studios, dance studios, children’s activity centers, and integrative health centers. The company offers its software platform to its subscribers as a subscription-based service. It also connects consumers with businesses through its MINDBODY app, a consumer-facing app that allows consumers to discover, book, and pay for wellness services; MINDBODY Marketing Platform, a fee-based platform that connects subscribers with local consumers via the MINDBODY app and third-party partner applications, or Websites; MINDBODY Workplace, a platform to manage on-site wellness services; and MINDBODY API Platform and Partner Ecosystem, a platform focuses in areas, such as automation, marketing, mobile, and social interaction. MINDBODY, Inc. sells its subscriptions through a direct sales team primarily in San Luis Obispo, California; New York; Texas; the United Kingdom; and Australia. The company was founded in 2001 and is headquartered in San Luis Obispo, California..