LifeStance Health Group (NASDAQ:LFST) Director Darren Black Sells 4,314,939 Shares

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 4,314,939 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the completion of the transaction, the director owned 29,209,776 shares in the company, valued at approximately $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

LifeStance Health Group Trading Up 0.8%

LifeStance Health Group stock traded up $0.06 during mid-day trading on Wednesday, hitting $7.33. The company’s stock had a trading volume of 4,040,753 shares, compared to its average volume of 2,227,601. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 366.68 and a beta of 1.11. The business has a 50 day moving average price of $7.13 and a 200-day moving average price of $6.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.65 and a quick ratio of 1.65. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $8.30.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The firm had revenue of $382.20 million for the quarter, compared to the consensus estimate of $378.51 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts forecast that LifeStance Health Group, Inc. will post -0.18 EPS for the current year.

LifeStance Health Group announced that its Board of Directors has approved a share repurchase program on Wednesday, February 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on LFST shares. Weiss Ratings upgraded shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday. UBS Group increased their price target on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. KeyCorp upped their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Finally, BMO Capital Markets started coverage on LifeStance Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Institutional Trading of LifeStance Health Group

Several institutional investors have recently bought and sold shares of LFST. Larson Financial Group LLC raised its holdings in LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after buying an additional 3,791 shares during the last quarter. Bayesian Capital Management LP purchased a new position in LifeStance Health Group in the 2nd quarter worth approximately $52,000. Krane Funds Advisors LLC purchased a new position in LifeStance Health Group in the 4th quarter worth approximately $71,000. Vanguard Personalized Indexing Management LLC bought a new position in LifeStance Health Group in the 3rd quarter valued at approximately $72,000. Finally, Cibc World Markets Corp purchased a new stake in LifeStance Health Group during the 4th quarter valued at $77,000. 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.