Beachbody (NASDAQ:BODI) Trading Down 1.3% - Time to Sell?

Key Points

• Stock movement: Beachbody (NASDAQ:BODI) fell about 1.3%, trading as low as $14.85 and last at $15.29 on volume of ~118,905 shares, a 52% increase versus its typical session volume.
• Analyst outlook: Broker sentiment is mixed but tilted positive with an average rating of "Moderate Buy" and an average price target of $13.50 (ratings include one Strong Buy, three Buy and one Sell; several recent upgrades and one new Buy initiation).
• Fundamentals and ownership: The company has a market cap of $109.78M, a negative P/E of -32.53, weak liquidity ratios (quick 0.63, current 0.74), and ~74.5% of shares held by institutions, including a recent 54% stake increase by Renaissance Technologies.

The Beachbody Company, Inc. (NASDAQ:BODI - Get Free Report) fell 1.3% on Monday . The stock traded as low as $14.85 and last traded at $15.29. 118,905 shares were traded during mid-day trading, an increase of 52% from the average session volume of 78,367 shares. The stock had previously closed at $15.49.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BODI. Craig Hallum began coverage on Beachbody in a report on Monday, March 2nd. They issued a "buy" rating and a $15.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Beachbody in a report on Friday, March 27th. Wall Street Zen raised Beachbody from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 14th. Zacks Research raised Beachbody from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. Finally, Canaccord Genuity Group boosted their price target on Beachbody from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.50.

Beachbody Price Performance

The firm has a market capitalization of $109.78 million, a PE ratio of -32.53 and a beta of 0.85. The stock has a 50-day moving average price of $10.54 and a 200 day moving average price of $9.42. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.72.

Institutional Trading of Beachbody

A number of institutional investors and hedge funds have recently made changes to their positions in the business. North Star Investment Management Corp. purchased a new stake in shares of Beachbody in the first quarter valued at approximately $163,000. Bard Associates Inc. purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $32,000. State Street Corp purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $166,000. Jane Street Group LLC purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $140,000. Finally, Renaissance Technologies LLC increased its position in shares of Beachbody by 54.0% in the fourth quarter. Renaissance Technologies LLC now owns 52,769 shares of the company's stock valued at $547,000 after buying an additional 18,505 shares in the last quarter. 74.48% of the stock is currently owned by hedge funds and other institutional investors.

About Beachbody

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.