Connective Capital Management LLC Takes $162,000 Position in LifeMD, Inc. (NASDAQ:LFMD)

Connective Capital Management LLC acquired a new stake in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 32,722 shares of the company's stock, valued at approximately $162,000. Connective Capital Management LLC owned about 0.08% of LifeMD at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in LifeMD during the fourth quarter valued at $51,000. Oxford Asset Management LLP purchased a new position in LifeMD during the fourth quarter valued at $52,000. Balyasny Asset Management L.P. purchased a new position in LifeMD during the fourth quarter valued at $52,000. AXQ Capital LP purchased a new position in LifeMD during the fourth quarter valued at $57,000. Finally, Quantbot Technologies LP purchased a new position in LifeMD during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 35.52% of the company's stock.

LifeMD Trading Up 0.6%

LifeMD stock opened at $10.64 on Wednesday. The firm has a market cap of $483.57 million, a price-to-earnings ratio of -16.63 and a beta of 2.22. The stock has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $5.95. LifeMD, Inc. has a 12 month low of $3.99 and a 12 month high of $11.18.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.47 million. On average, equities research analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 21,995 shares of LifeMD stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the completion of the sale, the chief executive officer now owns 2,553,726 shares of the company's stock, valued at $19,229,556.78. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now directly owns 170,000 shares of the company's stock, valued at $962,200. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,995 shares of company stock valued at $724,422 over the last 90 days. Company insiders own 15.97% of the company's stock.

Wall Street Analyst Weigh In

LFMD has been the subject of a number of recent research reports. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $11.00.

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.

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