MINDBODY Inc (MB): Are Hedge Funds Right About This Stock?

As industrywide interest jumped, some big names have jumped into MINDBODY Inc (NASDAQ:MB) headfirst. Luxor Capital Group, led by Christian Leone, established the most outsized position in MINDBODY Inc (NASDAQ:MB). Luxor Capital Group had $6.5 million invested in the company at the end of the quarter. Bruce Garelick’s Garelick Capital Partners also made a $4.3 million investment in the stock during the quarter. The following funds were also among the new MB investors: Brian Ashford-Russell and Tim Woolley’s Polar Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Warren Lammert’s Granite Point Capital.

Let’s go over hedge fund activity in other stocks similar to MINDBODY Inc (NASDAQ:MB). We will take a look at Dime Community Bancshares, Inc. (NASDAQ:DCOM), JinkoSolar Holding Co., Ltd. (NYSE:JKS), Lattice Semiconductor (NASDAQ:LSCC), and MGP Ingredients Inc (NASDAQ:MGPI). All of these stocks’ market caps are similar to MB’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DCOM 8 33018 0
JKS 5 12522 1
LSCC 11 24582 6
MGPI 8 53307 1

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $136 million in MB’s case. Lattice Semiconductor (NASDAQ:LSCC) is the most popular stock in this table. On the other hand JinkoSolar Holding Co., Ltd. (NYSE:JKS) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks MINDBODY Inc (NASDAQ:MB) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None