GSA Capital Partners LLP Buys 29,582 Shares of LifeMD, Inc. (NASDAQ:LFMD)

Key Points

• GSA Capital Partners LLP boosted its stake in LifeMD, Inc. by 39.9%, now owning approximately 0.24% of the company, valued at $565,000 as of the last reporting period.
• Several institutional investors, including Royce & Associates LP and Renaissance Technologies LLC, have increased their positions in LifeMD, with institutional ownership now at 35.52% of the stock.
• Despite recent insider sales, including the CFO offloading 75,000 shares, brokerages remain optimistic, with Lake Street Capital raising its price target on LifeMD to $18.00 and maintaining a "buy" rating.

GSA Capital Partners LLP raised its stake in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,803 shares of the company's stock after acquiring an additional 29,582 shares during the quarter. GSA Capital Partners LLP owned approximately 0.24% of LifeMD worth $565,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in LifeMD in the 4th quarter valued at approximately $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LifeMD by 17.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,412 shares of the company's stock valued at $235,000 after acquiring an additional 7,001 shares in the last quarter. Northern Trust Corp lifted its stake in LifeMD by 2.1% in the 4th quarter. Northern Trust Corp now owns 323,974 shares of the company's stock valued at $1,604,000 after acquiring an additional 6,634 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock valued at $70,000 after acquiring an additional 2,895 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in LifeMD in the 4th quarter valued at approximately $279,000. Institutional investors own 35.52% of the company's stock.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded down $0.51 during mid-day trading on Tuesday, hitting $11.84. The stock had a trading volume of 4,113,075 shares, compared to its average volume of 1,151,224. The company has a 50 day moving average of $12.16 and a two-hundred day moving average of $8.44. The firm has a market cap of $538.13 million, a PE ratio of -34.82 and a beta of 1.72. LifeMD, Inc. has a twelve month low of $3.99 and a twelve month high of $15.84.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Equities research analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LFMD has been the topic of a number of recent analyst reports. KeyCorp boosted their target price on LifeMD from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. BTIG Research upped their price objective on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research note on Wednesday, April 30th. Lake Street Capital increased their target price on LifeMD from $12.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen downgraded LifeMD from a "buy" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, LifeMD presently has a consensus rating of "Moderate Buy" and an average price target of $13.86.

Insider Buying and Selling

In other news, CFO Marc David Benathen sold 75,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $13.09, for a total transaction of $981,750.00. Following the completion of the sale, the chief financial officer directly owned 389,554 shares of the company's stock, valued at $5,099,261.86. The trade was a 16.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stefan Galluppi sold 85,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were 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 directly owned 80,449 shares of the company's stock, valued at approximately $995,958.62. The trade was a 51.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,000 shares of company stock valued at $3,564,550. 18.40% of the stock is currently owned by company insiders.

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.