Hotchkis & Wiley Capital Management LLC Has $5.64 Million Stock Holdings in Medifast, Inc. (NYSE:MED)

Hotchkis & Wiley Capital Management LLC cut its holdings in Medifast, Inc. (NYSE:MED) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 294,880 shares of the specialty retailer’s stock after selling 28,000 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 2.70% of Medifast worth $5,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC grew its position in shares of 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 purchasing an additional 600 shares during the period. Quarry LP boosted 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 acquiring an additional 2,282 shares during the last quarter. CWM LLC boosted 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 acquiring an additional 3,689 shares during the last quarter. SG Americas Securities LLC acquired a new position in Medifast during the 3rd quarter worth approximately $206,000. Finally, BOKF NA acquired a new position in Medifast during the 2nd quarter worth approximately $267,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised Medifast from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $16.50 to $17.00 in a research report on Tuesday, November 5th.

Medifast Trading Up 1.2 %

Shares of Medifast stock opened at $19.98 on Friday. Medifast, Inc. has a 12-month low of $17.07 and a 12-month high of $76.42. The stock has a market cap of $218.58 million, a P/E ratio of 30.27 and a beta of 1.17. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $18.59 and its 200-day moving average is $19.62.

Medifast (NYSE:MED) last announced its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The company had revenue of $140.16 million for the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter in the prior year, the business posted $2.12 EPS. Equities research analysts predict that Medifast, Inc. will post 1.51 earnings per share for the current fiscal 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.