Robert W. Baird Cuts Beachbody (NYSE:BODY) Price Target to $0.50

Beachbody (NYSE:BODY – Get Rating) had its price target trimmed by Robert W. Baird from $1.25 to $0.50 in a report issued on Thursday, The Fly reports. The firm currently has a neutral rating on the stock.

Separately, Credit Suisse Group decreased their target price on Beachbody from $1.50 to $1.35 and set a neutral rating for the company in a research report on Wednesday.

Beachbody Price Performance

Shares of NYSE:BODY opened at $0.50 on Thursday. Beachbody has a 12 month low of $0.50 and a 12 month high of $2.33. The business has a 50-day moving average of $0.66 and a two-hundred day moving average of $0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.09.

Institutional Investors Weigh In On Beachbody

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC boosted its position in shares of Beachbody by 120.4% in the fourth quarter. Virtu Financial LLC now owns 74,130 shares of the company’s stock worth $39,000 after buying an additional 40,491 shares during the period. Renaissance Technologies LLC boosted its holdings in Beachbody by 12.1% in the fourth quarter. Renaissance Technologies LLC now owns 378,000 shares of the company’s stock valued at $199,000 after purchasing an additional 40,800 shares during the last quarter. Bank of America Corp DE boosted its holdings in Beachbody by 192.5% in the fourth quarter. Bank of America Corp DE now owns 67,007 shares of the company’s stock valued at $35,000 after purchasing an additional 44,101 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Beachbody by 99.7% in the fourth quarter. HighTower Advisors LLC now owns 1,001,500 shares of the company’s stock valued at $527,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Beachbody by 42.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 95,931 shares of the company’s stock valued at $50,000 after purchasing an additional 28,392 shares during the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.

Beachbody Company Profile

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The Beachbody Company, Inc operates as a health and wellness platform that provides fitness, nutrition, and stress-reducing programs. It operates in two segments, Beachbody and Other. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Openfit, a digital streaming platform that provides digital fitness and wellness resource.