Connor Clark & Lunn Investment Management Ltd. Has $5.34 Million Stake in LifeMD, Inc. (NASDAQ:LFMD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in LifeMD, Inc. by 5.4%, now owning 981,894 shares valued at approximately $5.34 million, according to its latest 13F filing.
• Several analysts have issued mixed ratings on LifeMD, with two holding, five buying, and one strongly buying the stock; the consensus price target currently stands at $12.86.
• Insider transactions have seen significant sales, including CEO Justin Schreiber selling 25,000 shares for $334,500, while 18.40% of the company's stock is held by insiders.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 981,894 shares of the company's stock after purchasing an additional 50,600 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 2.16% of LifeMD worth $5,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LFMD. Geode Capital Management LLC boosted its position in LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after purchasing an additional 2,984 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of LifeMD by 44.7% during the fourth quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock worth $93,000 after buying an additional 5,791 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of LifeMD by 45.2% during the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock worth $2,524,000 after buying an additional 158,796 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LifeMD during the fourth quarter worth $473,000. Finally, Barclays PLC lifted its holdings in shares of LifeMD by 15.8% during the fourth quarter. Barclays PLC now owns 56,773 shares of the company's stock worth $281,000 after buying an additional 7,756 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

LifeMD Price Performance

LFMD stock traded down $0.17 during midday trading on Friday, reaching $6.43. The company had a trading volume of 1,705,253 shares, compared to its average volume of 2,586,356. The company has a market capitalization of $304.91 million, a price-to-earnings ratio of -30.62 and a beta of 1.72. The stock has a 50 day moving average price of $11.28 and a 200-day moving average price of $8.52. LifeMD, Inc. has a 1-year low of $3.99 and a 1-year high of $15.84. The company has a debt-to-equity ratio of 9.21, a current ratio of 0.77 and a quick ratio of 0.72.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their target price on LifeMD from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. BTIG Research lifted their target price on LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen downgraded LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Lake Street Capital dropped their target price on LifeMD from $18.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, HC Wainwright dropped their target price on LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.86.

Insider Buying and Selling

In related news, insider Eric Harold Yecies sold 15,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the completion of the transaction, the insider owned 16,100 shares of the company's stock, valued at $197,225. The trade was a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Justin Schreiber sold 25,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $13.38, for a total value of $334,500.00. Following the transaction, the chief executive officer directly owned 2,500,721 shares of the company's stock, valued at approximately $33,459,646.98. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,000 shares of company stock worth $3,564,550 in the last ninety days. 18.40% of the stock is owned by company insiders.

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.