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

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of LifeMD, Inc. (NASDAQ:LFMD) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 931,294 shares of the company’s stock after purchasing an additional 165,378 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 2.15% of LifeMD worth $4,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LFMD. State Street Corp increased its holdings in LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares during the period. Royce & Associates LP increased its holdings in shares of LifeMD by 14.6% in the 3rd quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after acquiring an additional 114,710 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of LifeMD by 852.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock valued at $637,000 after acquiring an additional 108,822 shares during the period. Raymond James Financial Inc. purchased a new position in shares of LifeMD in the 4th quarter valued at $473,000. Finally, Geode Capital Management LLC increased its holdings in shares of LifeMD by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock valued at $4,293,000 after acquiring an additional 83,598 shares during the period. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction dated Friday, February 14th. The stock was 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 approximately $20,035,548.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.97% of the stock is currently owned by insiders.

LifeMD Price Performance

Shares of LFMD stock opened at $5.94 on Monday. LifeMD, Inc. has a 1-year low of $3.99 and a 1-year high of $12.88. The stock’s fifty day moving average price is $5.68 and its 200 day moving average price is $5.39. The company has a market cap of $264.83 million, a price-to-earnings ratio of -9.28 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. As a group, equities research analysts anticipate that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. KeyCorp cut their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. B. Riley upgraded LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright lifted their price target on LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, March 12th. Lake Street Capital began coverage on LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Mizuho began coverage on LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price on the stock. One investment 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.43.

About LifeMD

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.