Medifast, Inc. (NYSE:MED) Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC trimmed its position in shares of Medifast, Inc. (NYSE:MED - Free Report) by 38.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,607 shares of the specialty retailer's stock after selling 45,378 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.65% of Medifast worth $1,262,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Medifast by 156.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,455 shares of the specialty retailer's stock valued at $1,100,000 after acquiring an additional 35,017 shares during the last quarter. Amundi purchased a new position in Medifast during the fourth quarter worth about $374,000. American Century Companies Inc. boosted its holdings in Medifast by 3.4% in the 4th quarter. American Century Companies Inc. now owns 244,185 shares of the specialty retailer's stock valued at $4,303,000 after purchasing an additional 8,058 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Medifast by 2,308.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer's stock worth $202,000 after buying an additional 10,967 shares during the last quarter. Finally, FMR LLC lifted its holdings in Medifast by 44.6% in the third quarter. FMR LLC now owns 30,786 shares of the specialty retailer's stock valued at $589,000 after acquiring an additional 9,499 shares during the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Medifast Stock Up 0.5 %

NYSE MED traded up $0.06 during trading hours on Thursday, hitting $12.21. 45,828 shares of the company were exchanged, compared to its average volume of 322,682. Medifast, Inc. has a 52-week low of $11.88 and a 52-week high of $36.30. The firm has a market cap of $133.50 million, a price-to-earnings ratio of 67.56 and a beta of 1.05. The company has a 50 day moving average of $14.04 and a two-hundred day 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, beating analysts' consensus estimates of ($0.16) by $0.26. The firm had revenue of $119.00 million during the quarter, compared to analysts' expectations of $114.25 million. Medifast had a return on equity of 10.64% and a net margin of 0.35%. On average, equities research analysts predict that Medifast, Inc. will post 0.51 EPS for the current year.

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 on the stock in a report on Wednesday, February 19th.

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.