Nuveen LLC Buys Shares of 284,031 LifeMD, Inc. $LFMD

Key Points

• Nuveen LLC acquired a new stake of 284,031 shares in LifeMD, Inc., representing approximately $1,545,000 and accounting for 0.62% of the company's shares.
• The company's stock is currently experiencing a downturn of 4.2%, with shares opening at $6.19 and having a market capitalization of $293.53 million.
• Insider transactions reveal significant selling activity, including CFO Marc David Benathen selling 50,000 shares for $700,500, reducing his ownership by 12.84%.

Nuveen LLC acquired a new position in LifeMD, Inc. (NASDAQ:LFMD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 284,031 shares of the company's stock, valued at approximately $1,545,000. Nuveen LLC owned approximately 0.62% of LifeMD at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its stake in shares of LifeMD by 825.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 158,423 shares of the company's stock valued at $784,000 after acquiring an additional 141,307 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of LifeMD by 45.6% in the 4th quarter. Nuveen Asset Management LLC now owns 413,501 shares of the company's stock valued at $2,047,000 after acquiring an additional 129,470 shares during the last quarter. Millennium Management LLC lifted its stake in shares of LifeMD by 17.1% in the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company's stock valued at $4,386,000 after acquiring an additional 129,327 shares during the last quarter. Courier Capital LLC bought a new stake in shares of LifeMD in the 1st quarter valued at about $653,000. Finally, Raymond James Financial Inc. bought a new stake in shares of LifeMD in the 4th quarter valued at about $473,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Stefan Galluppi sold 85,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the completion of the transaction, the insider owned 80,449 shares of the company's stock, valued at $995,958.62. This trade represents a 51.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.25, for a total value of $183,750.00. Following the transaction, the insider directly owned 16,100 shares of the company's stock, valued at approximately $197,225. This trade represents a 48.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,000 shares of company stock worth $3,252,800 in the last 90 days. Corporate insiders own 18.40% of the company's stock.

LifeMD Stock Up 3.0%

Shares of NASDAQ:LFMD traded up $0.18 during trading on Thursday, hitting $6.28. The stock had a trading volume of 1,014,660 shares, compared to its average volume of 1,710,699. LifeMD, Inc. has a 12 month low of $3.99 and a 12 month high of $15.84. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 9.21. The company has a market capitalization of $297.80 million, a PE ratio of -29.90 and a beta of 1.56. The firm's fifty day moving average is $9.26 and its 200 day moving average is $8.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LFMD shares. KeyCorp cut their price target on shares of LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Lake Street Capital cut their price target on shares of LifeMD from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. HC Wainwright lowered their price target on LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. BTIG Research upped their price target on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen lowered LifeMD from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $13.17.

About LifeMD

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.