Jump Financial LLC Has $919,000 Stock Position in LifeMD, Inc. $LFMD

Key Points

• Jump Financial LLC increased its stake in LifeMD, Inc. by 69.9% in Q1, owning 168,881 shares valued at approximately $919,000.
• LifeMD shares recently opened at $6.19, having a market capitalization of $293.53 million and a debt-to-equity ratio of 9.21.
• Insider sales included a significant transaction where CFO Marc David Benathen sold 75,000 shares for $981,750, reflecting a 16.14% decrease in ownership.

Jump Financial LLC boosted its stake in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 69.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,881 shares of the company's stock after acquiring an additional 69,502 shares during the quarter. Jump Financial LLC owned 0.37% of LifeMD worth $919,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LFMD. Wells Fargo & Company MN raised its stake in 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 acquiring an additional 5,791 shares in the last quarter. Raymond James Financial Inc. acquired a new position in LifeMD during the fourth quarter worth $473,000. Barclays PLC raised its stake in LifeMD by 15.8% during the fourth quarter. Barclays PLC now owns 56,773 shares of the company's stock worth $281,000 after acquiring an additional 7,756 shares in the last quarter. Mariner LLC acquired a new position in LifeMD during the fourth quarter worth $67,000. Finally, Price T Rowe Associates Inc. MD raised its stake in LifeMD by 26.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock worth $70,000 after acquiring an additional 2,895 shares in the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Stefan Galluppi sold 85,000 shares of LifeMD stock in a transaction dated 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 transaction, the insider owned 80,449 shares in the company, valued at $995,958.62. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marc David Benathen sold 75,000 shares of LifeMD stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $13.09, for a total value of $981,750.00. Following the transaction, the chief financial officer owned 389,554 shares in the company, valued at $5,099,261.86. This trade represents a 16.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,000 shares of company stock worth $3,252,800. Company insiders own 18.40% of the company's stock.

Analysts Set New Price Targets

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

LifeMD Stock Down 1.9%

Shares of NASDAQ:LFMD traded down $0.12 during trading on Friday, hitting $6.16. 398,065 shares of the company's stock traded hands, compared to its average volume of 1,638,189. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $15.84. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 9.21. The company has a market cap of $292.11 million, a price-to-earnings ratio of -29.33 and a beta of 1.56. The company has a 50-day moving average price of $9.26 and a 200-day moving average price of $8.50.

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.