Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in LifeMD, Inc. (NASDAQ:LFMD)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 21.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 931,294 shares of the company's stock after acquiring an additional 165,378 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 2.15% of LifeMD worth $4,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in LifeMD in the third quarter valued at $54,000. Magnus Financial Group LLC grew its holdings in LifeMD by 31.1% during the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company's stock worth $79,000 after acquiring an additional 3,792 shares during the period. MetLife Investment Management LLC raised its position in LifeMD by 129.1% during the third quarter. MetLife Investment Management LLC now owns 21,138 shares of the company's stock valued at $111,000 after acquiring an additional 11,910 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of LifeMD during the 3rd quarter worth approximately $129,000. Finally, Centiva Capital LP purchased a new position in shares of LifeMD during the 3rd quarter valued at approximately $196,000. Institutional investors and hedge funds own 35.52% of the company's stock.

Insider Activity

In other news, CMO Jessica Friedeman sold 30,000 shares of the company'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 transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at approximately $962,200. This represents a 15.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now owns 2,653,715 shares of the company's stock, valued at $20,035,548.25. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,000 shares of company stock valued at $677,050. 15.97% of the stock is currently owned by company insiders.

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LifeMD Stock Performance

Shares of LFMD stock traded down $0.07 during trading hours on Thursday, reaching $5.65. The company had a trading volume of 815,574 shares, compared to its average volume of 800,924. LifeMD, Inc. has a 12-month low of $3.99 and a 12-month high of $12.88. The company has a market capitalization of $251.90 million, a price-to-earnings ratio of -8.83 and a beta of 1.50. The stock has a fifty day moving average of $5.70 and a 200-day moving average of $5.40.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. The company had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. On average, analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on LFMD. HC Wainwright raised their price target on shares of LifeMD from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. Lake Street Capital started coverage on LifeMD in a research report on Tuesday, December 10th. They issued a "buy" rating and a $12.00 price objective for the company. KeyCorp decreased their target price on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, B. Riley raised shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $11.43.

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.