LifeStance Health Group (NASDAQ:LFST) Director Sells $1,951,763.24 in Stock

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Eric Shuey sold 243,362 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the transaction, the director directly owned 867,562 shares in the company, valued at $6,957,847.24. This trade represents a 21.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

LifeStance Health Group Stock Down 2.6%

LifeStance Health Group stock traded down $0.21 during midday trading on Thursday, reaching $7.89. The company’s stock had a trading volume of 5,260,978 shares, compared to its average volume of 3,283,413. The company has a market cap of $3.06 billion, a P/E ratio of 131.50 and a beta of 1.20. The company has a quick ratio of 1.65, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $6.76. LifeStance Health Group, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $8.89.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The business had revenue of $403.48 million during the quarter, compared to analysts’ expectations of $387.46 million. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. On average, research analysts expect that LifeStance Health Group, Inc. will post 0.11 earnings per share for the current fiscal year.

LifeStance Health Group announced that its board has authorized a share repurchase program on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LFST has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group lifted their target price on LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings raised LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 27th. BTIG Research upped their target price on LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Barclays lifted their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $9.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in LifeStance Health Group by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,613,535 shares of the company’s stock worth $80,374,000 after purchasing an additional 2,383,728 shares during the period. Everhart Financial Group Inc. acquired a new stake in shares of LifeStance Health Group in the 4th quarter valued at approximately $787,000. Tudor Investment Corp ET AL purchased a new stake in shares of LifeStance Health Group in the third quarter valued at approximately $1,040,000. Integral Health Asset Management LLC acquired a new position in LifeStance Health Group during the third quarter worth $8,250,000. Finally, AustralianSuper Pty Ltd acquired a new position in LifeStance Health Group during the third quarter worth $17,056,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

LifeStance Health Group Company Profile

LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.