Renaissance Technologies LLC Raises Holdings in LifeMD, Inc. (NASDAQ:LFMD)

Renaissance Technologies LLC increased its position in LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 45.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 510,000 shares of the company's stock after purchasing an additional 158,796 shares during the period. Renaissance Technologies LLC owned 1.18% of LifeMD worth $2,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LFMD. JPMorgan Chase & Co. grew its position in shares of LifeMD by 496.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company's stock worth $462,000 after buying an additional 73,389 shares during the period. State Street Corp grew its holdings in LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company's stock worth $6,055,000 after purchasing an additional 192,861 shares during the period. Geode Capital Management LLC increased its stake in shares of LifeMD by 11.4% during the third quarter. Geode Capital Management LLC now owns 819,233 shares of the company's stock valued at $4,293,000 after purchasing an additional 83,598 shares in the last quarter. Mirador Capital Partners LP lifted its holdings in shares of LifeMD by 139.3% during the fourth quarter. Mirador Capital Partners LP now owns 106,059 shares of the company's stock valued at $525,000 after purchasing an additional 61,731 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of LifeMD by 311.7% in the 3rd quarter. Barclays PLC now owns 49,017 shares of the company's stock worth $257,000 after buying an additional 37,112 shares during the last quarter. Institutional investors own 35.52% of the company's stock.

LifeMD Stock Down 14.6 %

Shares of NASDAQ LFMD traded down $1.26 during trading on Wednesday, reaching $7.36. 4,127,212 shares of the company traded hands, compared to its average volume of 910,406. The firm has a 50 day simple moving average of $5.48 and a 200-day simple moving average of $5.53. LifeMD, Inc. has a 52-week low of $3.99 and a 52-week high of $12.88. The stock has a market capitalization of $328.14 million, a PE ratio of -11.50 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. As a group, research analysts predict that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Transactions at LifeMD

In other news, CMO Jessica Friedeman sold 30,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $7.55, for a total value of $377,500.00. Following the sale, the chief executive officer now owns 2,653,715 shares of the company's stock, valued at $20,035,548.25. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.97% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on LFMD. KeyCorp dropped their target price on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price objective on shares of LifeMD 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 note on Wednesday. Finally, B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, LifeMD presently has an average rating of "Buy" and an average price target of $11.00.

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.