Beachbody (NYSE:BODI) Given Buy Rating at Canaccord Genuity Group

Beachbody (NYSE:BODI)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $13.00 price objective on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 70.16% from the company’s previous close.

Beachbody Stock Down 4.5 %

BODI traded down $0.36 during trading hours on Friday, reaching $7.64. 6,763 shares of the stock traded hands, compared to its average volume of 14,902. Beachbody has a fifty-two week low of $5.14 and a fifty-two week high of $10.80. The company has a market cap of $52.90 million, a price-to-earnings ratio of -0.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.64 and a quick ratio of 0.52. The firm’s fifty day simple moving average is $7.29 and its two-hundred day simple moving average is $6.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Raine Capital LLC purchased a new stake in Beachbody during the 3rd quarter worth approximately $4,287,000. Rockefeller Capital Management L.P. increased its stake in shares of Beachbody by 38.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 151,410 shares of the company’s stock worth $931,000 after buying an additional 42,079 shares during the last quarter. Summit Financial LLC acquired a new stake in Beachbody in the fourth quarter valued at $104,000. Finally, Raine Group LLC bought a new position in Beachbody during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 74.48% of the company’s stock.

About Beachbody

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.