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

Quinn Opportunity Partners LLC cut its position in Medifast, Inc. (NYSE:MED) by 38.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,607 shares of the specialty retailer’s stock after selling 45,378 shares during the period. Quinn Opportunity Partners LLC owned 0.65% of Medifast worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. purchased a new position in Medifast in the 4th quarter valued at $1,938,000. Federated Hermes Inc. lifted its stake in shares of Medifast by 28.8% in the fourth quarter. Federated Hermes Inc. now owns 279,473 shares of the specialty retailer’s stock worth $4,924,000 after buying an additional 62,574 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Medifast by 103.9% during the fourth quarter. JPMorgan Chase & Co. now owns 117,157 shares of the specialty retailer’s stock worth $2,064,000 after acquiring an additional 59,702 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Medifast during the 4th quarter valued at about $577,000. Finally, Amundi acquired a new stake in Medifast in the 4th quarter valued at about $374,000. 95.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson lowered their target price on Medifast from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, February 19th.

Medifast Stock Down 3.6 %

Shares of NYSE:MED opened at $12.66 on Friday. Medifast, Inc. has a 52-week low of $12.30 and a 52-week high of $36.30. The stock has a market cap of $138.52 million, a P/E ratio of 70.36 and a beta of 1.05. The business has a fifty day moving average of $14.21 and a two-hundred day moving average of $16.60.

Medifast (NYSE:MED) last announced its quarterly earnings data 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 analyst estimates of $114.25 million. Medifast had a net margin of 0.35% and a return on equity of 10.64%. On average, equities analysts anticipate that Medifast, Inc. will post 0.51 earnings per share for the current year.

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.