Hotchkis & Wiley Capital Management LLC lessened its holdings in Medifast, Inc. (NYSE:MED – Free Report) by 8.7% during the third quarter, Holdings Channel reports. The fund owned 294,880 shares of the specialty retailer’s stock after selling 28,000 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Medifast were worth $5,644,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC raised its stake in Medifast by 54.5% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 600 shares during the period. Quarry LP increased its position in Medifast by 592.7% during the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock worth $58,000 after buying an additional 2,282 shares during the period. CWM LLC increased its position in Medifast by 370.8% during the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer’s stock worth $102,000 after buying an additional 3,689 shares during the period. SG Americas Securities LLC bought a new position in Medifast during the 3rd quarter worth $206,000. Finally, Benjamin Edwards Inc. bought a new position in Medifast during the 3rd quarter worth $256,000. Institutional investors own 95.51% of the company’s stock.
Medifast Stock Performance
MED opened at $19.98 on Friday. The firm has a market cap of $218.58 million, a P/E ratio of 30.27 and a beta of 1.17. Medifast, Inc. has a 52-week low of $17.07 and a 52-week high of $76.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 3.11. The business’s fifty day moving average is $18.59 and its 200-day moving average is $19.62.
Analyst Ratings Changes
Separately, DA Davidson upgraded Medifast from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $16.50 to $17.00 in a research report on Tuesday, November 5th.
Read Our Latest Analysis on MED
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.
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