Jane Street Group LLC Sells 98,661 Shares of Medifast, Inc. (NYSE:MED)

Jane Street Group LLC reduced its position in shares of Medifast, Inc. (NYSE:MED - Free Report) by 38.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,089 shares of the specialty retailer's stock after selling 98,661 shares during the quarter. Jane Street Group LLC owned 1.47% of Medifast worth $3,083,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MED. Renaissance Technologies LLC boosted its stake in shares of Medifast by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 958,610 shares of the specialty retailer's stock worth $20,917,000 after acquiring an additional 161,487 shares during the period. Millennium Management LLC boosted its position in Medifast by 37.8% during the second quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer's stock worth $10,238,000 after purchasing an additional 128,719 shares during the period. AQR Capital Management LLC boosted its position in Medifast by 117.5% during the second quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer's stock worth $8,509,000 after purchasing an additional 210,669 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Medifast by 2,000.1% in the second quarter. Acadian Asset Management LLC now owns 338,228 shares of the specialty retailer's stock valued at $7,376,000 after purchasing an additional 322,123 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Medifast by 415.1% in the second quarter. Federated Hermes Inc. now owns 215,090 shares of the specialty retailer's stock valued at $4,693,000 after purchasing an additional 173,337 shares during the period. Institutional investors and hedge funds own 95.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson upgraded shares of Medifast from an "underperform" rating to a "neutral" rating and upped their price target for the company from $16.50 to $17.00 in a research note on Tuesday, November 5th.

Medifast Stock Performance

Shares of NYSE MED traded down $0.22 during trading hours on Friday, reaching $16.92. 483,711 shares of the stock were exchanged, compared to its average volume of 370,759. The firm has a market capitalization of $185.07 million, a price-to-earnings ratio of 25.64 and a beta of 1.17. The stock's fifty day simple moving average is $18.75 and its 200 day simple moving average is $19.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 3.11. Medifast, Inc. has a 52 week low of $16.73 and a 52 week high of $70.58.

Medifast (NYSE:MED - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The firm had revenue of $140.16 million for the quarter, compared to analysts' expectations of $135.45 million. During the same quarter last year, the business earned $2.12 EPS. Sell-side analysts predict that Medifast, Inc. will post 1.68 EPS for the current year.

Medifast 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.