Eric Shuey Sells 243,362 Shares of LifeStance Health Group (NASDAQ:LFST) Stock

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

LifeStance Health Group Price Performance

Shares of NASDAQ LFST traded down $0.21 during midday trading on Thursday, hitting $7.89. The company had a trading volume of 5,260,978 shares, compared to its average volume of 3,283,413. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 131.50 and a beta of 1.20. LifeStance Health Group, Inc. has a twelve month low of $3.74 and a twelve month high of $8.89. The business has a 50-day simple moving average of $6.86 and a two-hundred day simple moving average of $6.76. The company has a quick ratio of 1.65, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

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

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

Institutional Investors Weigh In On LifeStance Health Group

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of LifeStance Health Group by 63.4% in the first quarter. Royal Bank of Canada now owns 70,248 shares of the company’s stock worth $468,000 after acquiring an additional 27,244 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of LifeStance Health Group by 223.0% during the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company’s stock valued at $343,000 after acquiring an additional 35,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of LifeStance Health Group by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company’s stock valued at $952,000 after acquiring an additional 4,169 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in LifeStance Health Group by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company’s stock worth $4,100,000 after purchasing an additional 11,331 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in LifeStance Health Group by 10.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company’s stock valued at $2,847,000 after purchasing an additional 51,154 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

Analyst Upgrades and Downgrades

LFST has been the topic of a number of research analyst reports. KeyCorp boosted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings upgraded LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. UBS Group lifted their price target on LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $9.86.

About LifeStance Health Group

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.