Peapod Lane Capital LLC Makes New Investment in Medifast Inc (NYSE:MED)

Peapod Lane Capital LLC bought a new position in shares of Medifast Inc (NYSE:MED - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 69,200 shares of the specialty retailer's stock, valued at approximately $933,000. Peapod Lane Capital LLC owned approximately 0.63% of Medifast at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Medifast by 3,207.2% in the first quarter. GAMMA Investing LLC now owns 3,208 shares of the specialty retailer's stock valued at $43,000 after buying an additional 3,111 shares during the period. Wells Fargo & Company MN boosted its holdings in Medifast by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer's stock worth $114,000 after buying an additional 1,227 shares during the last quarter. State of Wyoming grew its position in shares of Medifast by 286.1% during the 4th quarter. State of Wyoming now owns 11,312 shares of the specialty retailer's stock worth $199,000 after buying an additional 8,382 shares during the period. Barclays PLC increased its stake in shares of Medifast by 15.1% in the 4th quarter. Barclays PLC now owns 16,194 shares of the specialty retailer's stock valued at $285,000 after acquiring an additional 2,127 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Medifast in the 4th quarter valued at approximately $352,000. 95.51% of the stock is owned by institutional investors.

Medifast Stock Performance

MED stock traded down $0.21 during midday trading on Friday, hitting $14.47. 150,073 shares of the company's stock were exchanged, compared to its average volume of 236,975. The stock's fifty day moving average price is $13.66 and its 200-day moving average price is $14.25. Medifast Inc has a one year low of $11.57 and a one year high of $22.66. The company has a market cap of $159.03 million, a PE ratio of -22.26 and a beta of 0.86.

Medifast (NYSE:MED - Get Free Report) last announced its earnings results on Monday, April 28th. The specialty retailer reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). The firm had revenue of $115.73 million during the quarter, compared to analyst estimates of $114.85 million. Medifast had a negative net margin of 1.29% and a positive return on equity of 6.63%. On average, analysts expect that Medifast Inc will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Medifast from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.