FitLife Brands (NASDAQ:FTLF) Director Purchases $29,280.00 in Stock

FitLife Brands Inc. (NASDAQ:FTLF) Director Matthew Lingenbrink acquired 3,000 shares of FitLife Brands stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $9.76 per share, with a total value of $29,280.00. Following the purchase, the director directly owned 8,800 shares of the company’s stock, valued at approximately $85,888. This trade represents a 51.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

FitLife Brands Stock Down 0.5%

Shares of NASDAQ FTLF opened at $9.25 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.88. FitLife Brands Inc. has a 52 week low of $8.67 and a 52 week high of $20.98. The firm has a 50-day moving average price of $13.33 and a 200 day moving average price of $16.17. The stock has a market capitalization of $86.86 million, a price-to-earnings ratio of 14.59 and a beta of 0.37.

Analyst Ratings Changes

FTLF has been the subject of a number of research reports. Zacks Research cut shares of FitLife Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Lake Street Capital cut their target price on shares of FitLife Brands from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of FitLife Brands in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.50.

Hedge Funds Weigh In On FitLife Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTLF. Geode Capital Management LLC raised its position in FitLife Brands by 101.4% during the second quarter. Geode Capital Management LLC now owns 90,746 shares of the company’s stock worth $1,182,000 after acquiring an additional 45,690 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of FitLife Brands during the second quarter worth about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of FitLife Brands during the second quarter worth about $28,000. Bank of America Corp DE grew its holdings in shares of FitLife Brands by 6,524.2% during the second quarter. Bank of America Corp DE now owns 2,186 shares of the company’s stock worth $28,000 after buying an additional 2,153 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of FitLife Brands by 119.2% during the second quarter. Osaic Holdings Inc. now owns 4,414 shares of the company’s stock worth $57,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.

About FitLife Brands

FitLife Brands, Inc provides nutritional supplements for health-conscious consumers in the United States and internationally. The company provides weight loss, sports nutrition, and general health products; sports nutrition products; weight loss and sports nutrition products; sports nutrition and general wellness formulations with an emphasis on natural, vegan, and organic ingredients; and male health and weight loss products, as well as other diet, health, and sports nutrition supplements and related products; and value-oriented sports nutrition and weight loss products.