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 stock was sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the sale, the director directly owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. This represents a 21.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

LifeStance Health Group Stock Down 3.0%

Shares of LifeStance Health Group stock opened at $7.65 on Friday. The stock has a 50-day moving average price of $6.88 and a 200 day moving average price of $6.79. The company has a market cap of $2.97 billion, a P/E ratio of 127.50 and a beta of 1.20. The company has a current ratio of 1.48, a quick ratio of 1.65 and a debt-to-equity ratio of 0.18. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.89.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $403.48 million during the quarter, compared to the consensus estimate of $387.46 million. LifeStance Health Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, analysts expect that LifeStance Health Group, Inc. will post 0.11 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research raised LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Canaccord Genuity Group raised their price target on LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen raised LifeStance Health Group from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. UBS Group raised 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. Finally, JPMorgan Chase & Co. raised their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday. Two investment 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 MarketBeat, LifeStance Health Group has a consensus rating of “Buy” and an average price target of $9.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LFST. Assetmark Inc. grew its holdings in LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock valued at $60,000 after buying an additional 1,367 shares during the last quarter. Park Edge Advisors LLC grew its holdings in LifeStance Health Group by 14.4% in the 4th quarter. Park Edge Advisors LLC now owns 11,863 shares of the company’s stock valued at $84,000 after buying an additional 1,495 shares during the last quarter. California State Teachers Retirement System grew its holdings in LifeStance Health Group by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company’s stock valued at $885,000 after buying an additional 1,966 shares during the last quarter. Vident Advisory LLC grew its holdings in LifeStance Health Group by 12.7% in the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company’s stock valued at $112,000 after buying an additional 2,447 shares during the last quarter. Finally, Xponance LLC grew its holdings in LifeStance Health Group by 26.4% in the 4th quarter. Xponance LLC now owns 13,144 shares of the company’s stock valued at $93,000 after buying an additional 2,745 shares during the last quarter. 85.50% of the stock is owned by 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.