Medifast Inc. (NASDAQ: MED) said on Monday that Kiai Parsa, managing member of Steamboat Capital Partners, acquired 4,329 common shares for $51,946 through affiliated funds. The purchases occurred on August 24 at prices between $11.99 and $12.00 per share, with an average cost of $11.9996.
Parsa’s investment entities—Steamboat Capital Partners Master Fund LP and Steamboat Capital Partners II LP—now hold 665,517 and 19,095 shares, respectively, according to regulatory filings. Parsa disclaimed beneficial ownership except for his pecuniary interest in the transactions.
The insider activity follows a recent rally in Medifast shares, which have gained 5% over the past week and 17% over the last six months. Analysts cited the stock’s perceived undervaluation as a factor behind the purchases. The company’s shares advanced despite a broader market pullback in the sector.
Medifast reported second-quarter results on August 26, posting a loss of $0.28 per share versus the expected $0.43 loss. Revenue reached $76.4 million, topping the $74.7 million forecast. The beat was attributed to improved productivity and strong reception for the company’s new Trilivy brand, even as the number of active coaches declined.
