Sherbrooke Park Advisers LLC Invests $120,000 in LifeMD, Inc. (NASDAQ:LFMD)

Sherbrooke Park Advisers LLC purchased a new position in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,247 shares of the company's stock, valued at approximately $120,000. Sherbrooke Park Advisers LLC owned approximately 0.06% of LifeMD at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LFMD. Marshall Wace LLP lifted its stake in LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after buying an additional 311,841 shares during the last quarter. Royce & Associates LP grew its holdings in LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock worth $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after acquiring an additional 165,378 shares during the period. Renaissance Technologies LLC increased its stake in LifeMD by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock worth $2,524,000 after purchasing an additional 158,796 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in LifeMD by 825.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 158,423 shares of the company's stock worth $784,000 after purchasing an additional 141,307 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company's stock.

Insider Activity

In other news, CEO Justin Schreiber sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $7.78, for a total transaction of $389,000.00. Following the sale, the chief executive officer now directly owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares in the company, valued at approximately $962,200. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,995 shares of company stock worth $724,422. Company insiders own 15.97% of the company's stock.

Wall Street Analyst Weigh In

LFMD has been the subject of a number of research reports. B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. 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 company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $11.00.

LifeMD Stock Up 0.3%

Shares of LFMD stock traded up $0.03 during trading hours on Friday, reaching $11.53. 1,345,122 shares of the company's stock were exchanged, compared to its average volume of 974,988. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $11.65. The stock has a market capitalization of $524.02 million, a P/E ratio of -18.02 and a beta of 2.22. The business has a fifty day moving average price of $6.84 and a 200-day moving average price of $6.09.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $62.47 million. As a group, research analysts expect that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

LifeMD Company 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.