Arrowstreet Capital Limited Partnership Cuts Stock Position in Medifast, Inc. (NYSE:MED)

Arrowstreet Capital Limited Partnership cut its position in Medifast, Inc. (NYSE:MED - Free Report) by 77.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,396 shares of the specialty retailer's stock after selling 180,332 shares during the period. Arrowstreet Capital Limited Partnership owned 0.47% of Medifast worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MED. Public Employees Retirement System of Ohio boosted its holdings in Medifast by 1,161.8% in the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer's stock valued at $187,000 after purchasing an additional 8,992 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Medifast by 2,308.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer's stock valued at $202,000 after buying an additional 10,967 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Medifast by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer's stock valued at $301,000 after buying an additional 674 shares during the last quarter. XTX Topco Ltd acquired a new stake in Medifast during the 3rd quarter worth $348,000. Finally, Amundi purchased a new stake in Medifast in the fourth quarter valued at $374,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their price objective on shares of Medifast from $17.00 to $16.50 and set a "neutral" rating for the company in a research note on Wednesday, February 19th.

Medifast Stock Down 0.1 %

NYSE:MED traded down $0.02 during mid-day trading on Thursday, reaching $12.14. 16,042 shares of the stock were exchanged, compared to its average volume of 322,559. The stock has a market capitalization of $132.73 million, a P/E ratio of 67.51 and a beta of 1.05. Medifast, Inc. has a 1 year low of $11.88 and a 1 year high of $36.30. The company has a 50 day simple moving average of $14.04 and a 200-day simple moving average of $16.48.

Medifast (NYSE:MED - Get Free Report) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.26. Medifast had a net margin of 0.35% and a return on equity of 10.64%. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $114.25 million. As a group, research analysts predict that Medifast, Inc. will post 0.51 EPS for the current year.

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.