Penn Capital Management Company LLC Purchases New Stake in LifeMD, Inc. $LFMD

Penn Capital Management Company LLC acquired a new position in shares of LifeMD, Inc. (NASDAQ:LFMD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 224,235 shares of the company’s stock, valued at approximately $926,000. Penn Capital Management Company LLC owned about 0.47% of LifeMD as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of LifeMD by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock valued at $270,000 after acquiring an additional 2,235 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of LifeMD by 110.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after purchasing an additional 2,452 shares during the period. Invesco Ltd. lifted its stake in LifeMD by 18.8% in the fourth quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock valued at $83,000 after purchasing an additional 3,870 shares during the last quarter. Rhumbline Advisers lifted its stake in LifeMD by 8.7% in the second quarter. Rhumbline Advisers now owns 53,589 shares of the company’s stock valued at $730,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in LifeMD by 10.1% during the first quarter. Bank of America Corp DE now owns 48,703 shares of the company’s stock valued at $176,000 after purchasing an additional 4,465 shares during the period. Institutional investors own 35.52% of the company’s stock.

LifeMD Price Performance

LifeMD stock opened at $3.14 on Friday. LifeMD, Inc. has a one year low of $2.56 and a one year high of $7.32. The business has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.96. The firm has a market capitalization of $151.35 million, a P/E ratio of -62.79 and a beta of 2.02.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. The company had revenue of $47.28 million for the quarter, compared to the consensus estimate of $49.16 million. Sell-side analysts expect that LifeMD, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright lowered their target price on LifeMD from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. KeyCorp set a $5.00 price objective on LifeMD and gave the stock an “overweight” rating in a report on Friday, August 7th. BTIG Research decreased their price objective on LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Mizuho set a $7.00 price objective on shares of LifeMD in a report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of LifeMD from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, LifeMD has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

LifeMD Company Profile

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.