Magnus Financial Group LLC Buys 3,792 Shares of LifeMD, Inc. (NASDAQ:LFMD)

Magnus Financial Group LLC grew its stake in shares of LifeMD, Inc. (NASDAQ:LFMD) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,000 shares of the company’s stock after acquiring an additional 3,792 shares during the period. Magnus Financial Group LLC’s holdings in LifeMD were worth $79,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LFMD. Rhumbline Advisers bought a new position in shares of LifeMD during the second quarter worth approximately $326,000. XTX Topco Ltd bought a new position in LifeMD during the 2nd quarter worth $94,000. Cubist Systematic Strategies LLC lifted its holdings in shares of LifeMD by 15.1% during the second quarter. Cubist Systematic Strategies LLC now owns 551,344 shares of the company’s stock worth $3,782,000 after buying an additional 72,203 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of LifeMD by 23.8% in the second quarter. Squarepoint Ops LLC now owns 154,390 shares of the company’s stock valued at $1,059,000 after acquiring an additional 29,692 shares during the period. Finally, Deerfield Management Company L.P. Series C grew its stake in shares of LifeMD by 25.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 40,289 shares of the company’s stock valued at $276,000 after acquiring an additional 8,204 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

LifeMD Stock Performance

Shares of LFMD stock opened at $5.16 on Friday. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $12.88. The stock’s fifty day moving average price is $5.45 and its two-hundred day moving average price is $5.42. The company has a market cap of $223.48 million, a PE ratio of -8.06 and a beta of 1.49.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The company had revenue of $53.39 million during the quarter, compared to analyst estimates of $53.53 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. On average, equities analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total transaction of $129,750.00. Following the sale, the chief executive officer now directly owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.97% of the company’s stock.

Wall Street Analysts Forecast Growth

LFMD has been the subject of several analyst reports. Mizuho assumed coverage on shares of LifeMD in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. Lake Street Capital began coverage on LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of LifeMD in a research report on Monday, November 11th. Finally, KeyCorp cut their target price on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.14.

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.