StockNews.com Initiates Coverage on Mannatech (NASDAQ:MTEX)

StockNews.com assumed coverage on shares of Mannatech (NASDAQ:MTEXGet Rating) in a research note issued on Monday. The firm set a “strong-buy” rating on the stock.

Shares of MTEX stock opened at $24.01 on Monday. The stock has a 50 day moving average of $30.88 and a 200 day moving average of $34.54. The stock has a market cap of $46.82 million, a P/E ratio of 6.42 and a beta of 1.14. Mannatech has a twelve month low of $22.38 and a twelve month high of $49.08.

Mannatech (NASDAQ:MTEXGet Rating) last announced its quarterly earnings results on Friday, May 13th. The company reported $0.06 earnings per share for the quarter. The company had revenue of $32.38 million during the quarter. Mannatech had a return on equity of 32.08% and a net margin of 5.06%.

In other news, Director Kevin Andrew Robbins sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $36.57, for a total value of $40,227.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 45.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ellsworth Advisors LLC purchased a new stake in shares of Mannatech during the fourth quarter worth approximately $545,000. Renaissance Technologies LLC increased its position in shares of Mannatech by 9.1% during the third quarter. Renaissance Technologies LLC now owns 59,699 shares of the company’s stock worth $1,951,000 after purchasing an additional 4,986 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Mannatech during the fourth quarter worth approximately $279,000. LSV Asset Management increased its position in shares of Mannatech by 1,090.3% during the first quarter. LSV Asset Management now owns 7,142 shares of the company’s stock worth $261,000 after purchasing an additional 6,542 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in Mannatech in the 3rd quarter valued at $240,000. Hedge funds and other institutional investors own 31.96% of the company’s stock.

About Mannatech (Get Rating)

Mannatech, Incorporated operates as a health and wellness company worldwide. It develops, markets, and sells nutritional supplements; topical and skin care, and anti-aging products; and weight-management products. The company primarily sells its products directly, as well as through e-commerce and network marketing channels.

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