Bridgeway Capital Management LLC Makes New Investment in Medifast, Inc. (NYSE:MED)

Bridgeway Capital Management LLC bought a new position in shares of Medifast, Inc. (NYSE:MED - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,000 shares of the specialty retailer's stock, valued at approximately $352,000. Bridgeway Capital Management LLC owned approximately 0.18% of Medifast as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MED. Exchange Traded Concepts LLC lifted its position in shares of Medifast by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer's stock valued at $301,000 after buying an additional 674 shares during the last quarter. Northern Trust Corp lifted its holdings in Medifast by 0.9% in the 4th quarter. Northern Trust Corp now owns 101,775 shares of the specialty retailer's stock worth $1,793,000 after buying an additional 871 shares during the period. Wells Fargo & Company MN boosted its stake in Medifast by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer's stock worth $114,000 after acquiring an additional 1,227 shares in the last quarter. Geode Capital Management LLC raised its stake in Medifast by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 245,929 shares of the specialty retailer's stock valued at $4,335,000 after buying an additional 1,447 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Medifast by 15.1% in the 4th quarter. Barclays PLC now owns 16,194 shares of the specialty retailer's stock worth $285,000 after purchasing an additional 2,127 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Medifast Stock Performance

MED traded up $0.63 on Friday, reaching $14.00. 341,017 shares of the company's stock were exchanged, compared to its average volume of 298,808. The company's 50 day moving average is $13.14 and its 200-day moving average is $15.63. The company has a market cap of $153.90 million, a price-to-earnings ratio of 77.79 and a beta of 0.96. Medifast, Inc. has a twelve month low of $11.57 and a twelve month high of $26.53.

Medifast (NYSE:MED - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The specialty retailer reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). Medifast had a return on equity of 10.64% and a net margin of 0.35%. The business had revenue of $115.73 million during the quarter, compared to analyst estimates of $114.85 million. Sell-side analysts forecast that Medifast, Inc. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. DA Davidson dropped their target price on shares of Medifast from $17.00 to $16.50 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Medifast from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st.

About Medifast

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.