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.
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