Beachbody (NASDAQ:BODI) Cut to Hold at Zacks Research

Beachbody (NASDAQ:BODI) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on BODI. Wall Street Zen downgraded Beachbody from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group boosted their target price on shares of Beachbody from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beachbody in a report on Friday, March 27th. Finally, Craig Hallum started coverage on shares of Beachbody in a research report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Beachbody Stock Performance

Shares of NASDAQ BODI opened at $12.95 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.72. The company has a market cap of $92.98 million, a PE ratio of -27.55 and a beta of 1.11. The firm’s 50-day moving average price is $11.70 and its 200-day moving average price is $9.98. Beachbody has a 52-week low of $3.38 and a 52-week high of $16.87.

Institutional Trading of Beachbody

A number of large investors have recently made changes to their positions in the stock. Bard Associates Inc. purchased a new stake in Beachbody in the fourth quarter worth about $32,000. Dimensional Fund Advisors LP bought a new stake in shares of Beachbody in the 1st quarter valued at about $111,000. Cruiser Capital Advisors LLC bought a new stake in shares of Beachbody in the 3rd quarter valued at about $117,000. Jane Street Group LLC acquired a new position in shares of Beachbody during the fourth quarter valued at about $140,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Beachbody during the first quarter valued at about $163,000. 74.48% of the stock is 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.