MEGA Brands’ (MB) Buy Rating Reaffirmed at UBS AG

UBS AG restated their buy rating on shares of MEGA Brands Inc (NASDAQ:MB) in a research note published on Thursday. They currently have a $40.00 price target on the stock, up from their prior price target of $34.00.

A number of other analysts also recently issued reports on MB. Roth Capital reissued a buy rating and issued a $31.50 price objective on shares of MEGA Brands in a report on Thursday, September 28th. BidaskClub raised shares of MEGA Brands from a hold rating to a buy rating in a report on Tuesday, September 26th. Zacks Investment Research raised shares of MEGA Brands from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Wednesday, September 27th. KeyCorp reissued a buy rating and issued a $32.00 price objective on shares of MEGA Brands in a report on Sunday, October 22nd. Finally, Craig Hallum reissued a buy rating and issued a $30.00 price objective on shares of MEGA Brands in a report on Monday, September 25th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$31.68.

Shares of MEGA Brands (NASDAQ:MB) traded up C$0.75 on Thursday, reaching C$33.25. 355,495 shares of the company were exchanged, compared to its average volume of 502,242. MEGA Brands has a twelve month low of C$19.50 and a twelve month high of C$34.11.

MEGA Brands (NASDAQ:MB) last announced its quarterly earnings results on Thursday, October 26th. The company reported C$0.01 EPS for the quarter, beating the Zacks’ consensus estimate of C($0.04) by C$0.05. MEGA Brands had a negative net margin of 7.79% and a negative return on equity of 5.94%. The business had revenue of C$46.60 million for the quarter, compared to analyst estimates of C$45.59 million. During the same quarter in the prior year, the business earned ($0.09) EPS. MEGA Brands’s quarterly revenue was up 32.0% on a year-over-year basis.

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In other MEGA Brands news, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of C$23.71, for a total value of C$420,591.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett T. White sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of C$24.00, for a total transaction of C$240,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 955,594 shares of company stock valued at $25,273,140 and sold 168,717 shares valued at $4,684,727.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in MEGA Brands during the second quarter worth $37,529,000. Federated Investors Inc. PA boosted its stake in MEGA Brands by 112.3% during the second quarter. Federated Investors Inc. PA now owns 401,845 shares of the company’s stock worth $10,930,000 after acquiring an additional 212,537 shares in the last quarter. Bank of America Corp DE boosted its stake in MEGA Brands by 5.2% during the first quarter. Bank of America Corp DE now owns 35,657 shares of the company’s stock worth $979,000 after acquiring an additional 1,762 shares in the last quarter. Vanguard Group Inc. boosted its stake in MEGA Brands by 19.4% during the first quarter. Vanguard Group Inc. now owns 904,161 shares of the company’s stock worth $24,820,000 after acquiring an additional 146,816 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new position in MEGA Brands during the second quarter worth $6,664,000.

MEGA Brands Company Profile

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.

Analyst Recommendations for MEGA Brands (NASDAQ:MB)

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