Perritt Capital Management Inc Lowers Stock Position in The Beachbody Company, Inc. (NYSE:BODI)

Perritt Capital Management Inc cut its stake in shares of The Beachbody Company, Inc. (NYSE:BODI) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the company’s stock after selling 4,000 shares during the period. Perritt Capital Management Inc owned approximately 0.65% of Beachbody worth $277,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BODI. Raine Group LLC purchased a new stake in Beachbody in the third quarter valued at approximately $25,000. Summit Financial LLC purchased a new stake in shares of Beachbody in the 4th quarter valued at $104,000. Rockefeller Capital Management L.P. acquired a new position in Beachbody during the 3rd quarter worth about $625,000. Finally, Raine Capital LLC purchased a new position in Beachbody during the 3rd quarter valued at about $4,287,000. 74.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Beachbody in a research note on Friday, March 28th. Roth Mkm reaffirmed a “neutral” rating and set a $7.00 target price (down from $12.00) on shares of Beachbody in a research note on Tuesday. Finally, Roth Capital cut shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Beachbody currently has an average rating of “Hold” and an average price target of $11.00.

Beachbody Stock Down 0.9 %

Shares of NYSE:BODI opened at $7.42 on Wednesday. The Beachbody Company, Inc. has a fifty-two week low of $5.14 and a fifty-two week high of $10.80. The firm’s 50 day moving average price is $7.35 and its 200 day moving average price is $6.71. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.17. The stock has a market cap of $51.38 million, a price-to-earnings ratio of -0.47 and a beta of 1.13.

Beachbody (NYSE:BODI) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($1.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.88) by $0.99. The business had revenue of $86.37 million for the quarter, compared to analyst estimates of $81.71 million. Beachbody had a negative net margin of 22.62% and a negative return on equity of 94.29%. As a group, equities research analysts predict that The Beachbody Company, Inc. will post -8.16 earnings per share for the current fiscal year.

Beachbody Profile

The Beachbody Company, Inc operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. 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 Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs.