B. Riley Financial Inc. reduced its holdings in shares of LifeMD, Inc. (NASDAQ:LFMD – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,081,712 shares of the company's stock after selling 18,999 shares during the quarter. LifeMD makes up 0.5% of B. Riley Financial Inc.'s investment portfolio, making the stock its 21st biggest holding. B. Riley Financial Inc.'s holdings in LifeMD were worth $2,099,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Shah Capital Management boosted its position in shares of LifeMD by 36.5% in the 4th quarter. Shah Capital Management now owns 558,879 shares of the company's stock valued at $1,084,000 after purchasing an additional 149,315 shares during the period. State Street Corp boosted its position in shares of LifeMD by 8.2% in the 1st quarter. State Street Corp now owns 72,594 shares of the company's stock valued at $256,000 after purchasing an additional 5,471 shares during the period. Bank of New York Mellon Corp purchased a new stake in LifeMD during the 3rd quarter valued at approximately $64,000. Jane Street Group LLC purchased a new stake in LifeMD during the 2nd quarter valued at approximately $25,000. Finally, Royce & Associates LP raised its stake in LifeMD by 43.9% during the 3rd quarter. Royce & Associates LP now owns 852,544 shares of the company's stock valued at $1,680,000 after acquiring an additional 260,058 shares during the last quarter. 17.01% of the stock is owned by institutional investors and hedge funds.
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Separately, BTIG Research reduced their price objective on LifeMD from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, March 23rd.
LifeMD Stock Up 3.7 %
LFMD opened at $1.54 on Thursday. The company has a market cap of $48.95 million, a PE ratio of -0.98 and a beta of 1.31. The business has a 50 day moving average price of $1.59 and a two-hundred day moving average price of $1.94. LifeMD, Inc. has a 52 week low of $1.14 and a 52 week high of $3.22.
LifeMD Profile
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LifeMD, Inc is a telehealth company, which engages in offering a portfolio of direct-to-patient products and services. The firm combines virtual medical treatment with prescription medications and over-the-counter products. It operates through the Telehealth and WorkSimpli segments. The company was founded in 1987 and is headquartered in New York, NY.
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