Acadian Asset Management LLC Acquires Shares of 281,244 LifeMD, Inc. $LFMD

Acadian Asset Management LLC bought a new position in LifeMD, Inc. (NASDAQ:LFMD) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 281,244 shares of the company’s stock, valued at approximately $3,828,000. Acadian Asset Management LLC owned about 0.62% of LifeMD at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LFMD. Y Intercept Hong Kong Ltd purchased a new position in shares of LifeMD in the second quarter valued at $818,000. Nuveen LLC purchased a new stake in LifeMD during the first quarter valued at $1,545,000. Wealth Enhancement Advisory Services LLC bought a new position in LifeMD during the second quarter valued at $193,000. Royce & Associates LP grew its stake in shares of LifeMD by 3.5% in the 1st quarter. Royce & Associates LP now owns 1,155,231 shares of the company’s stock worth $6,284,000 after buying an additional 39,240 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of LifeMD by 5.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,894 shares of the company’s stock worth $5,342,000 after buying an additional 50,600 shares during the last quarter. 35.52% of the stock is owned by institutional investors.

Insider Buying and Selling at LifeMD

In other news, insider Nicholas P. Alvarez sold 75,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $5.92, for a total value of $444,000.00. Following the completion of the sale, the insider owned 605,000 shares in the company, valued at approximately $3,581,600. This trade represents a 11.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LFMD has been the topic of several analyst reports. KeyCorp reduced their price objective on LifeMD from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Lake Street Capital cut their target price on LifeMD from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of LifeMD in a research report on Wednesday, October 8th. HC Wainwright cut their price objective on shares of LifeMD from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of LifeMD from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.17.

LifeMD Price Performance

LFMD stock opened at $4.62 on Friday. The company has a debt-to-equity ratio of 9.21, a current ratio of 0.77 and a quick ratio of 0.72. LifeMD, Inc. has a 1 year low of $4.13 and a 1 year high of $15.84. The firm has a market capitalization of $219.08 million, a P/E ratio of -22.00 and a beta of 1.57. The business’s 50-day moving average is $6.10 and its two-hundred day moving average is $8.73.

LifeMD Profile

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.