Short Interest in LifeStance Health Group, Inc. (NASDAQ:LFST) Declines By 5.9%

LifeStance Health Group, Inc. (NASDAQ:LFST) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 16,010,000 shares, a drop of 5.9% from the June 15th total of 17,020,000 shares. Currently, 14.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 10.5 days.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reaffirmed an “overweight” rating and issued a $10.00 target price on shares of LifeStance Health Group in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.80.

Insider Activity

In other news, major shareholder Summit Partners Growth Equity sold 3,802,345 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $5.89, for a total transaction of $22,395,812.05. Following the transaction, the insider now owns 41,932,358 shares of the company’s stock, valued at approximately $246,981,588.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paula Cipollone sold 48,278 shares of LifeStance Health Group stock in a transaction on Monday, May 13th. The shares were sold at an average price of $7.22, for a total value of $348,567.16. Following the completion of the sale, the insider now owns 239,915 shares of the company’s stock, valued at approximately $1,732,186.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Summit Partners Growth Equity sold 3,802,345 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $5.89, for a total value of $22,395,812.05. Following the transaction, the insider now owns 41,932,358 shares in the company, valued at $246,981,588.62. The disclosure for this sale can be found here. Insiders sold 4,087,716 shares of company stock worth $24,010,444 in the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in LifeStance Health Group during the first quarter worth about $106,000. California State Teachers Retirement System boosted its position in shares of LifeStance Health Group by 13.0% during the 1st quarter. California State Teachers Retirement System now owns 95,758 shares of the company’s stock valued at $591,000 after acquiring an additional 11,022 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of LifeStance Health Group during the first quarter worth about $238,000. Price T Rowe Associates Inc. MD increased its position in shares of LifeStance Health Group by 12.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,366 shares of the company’s stock worth $262,000 after purchasing an additional 4,681 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in LifeStance Health Group by 43.4% in the first quarter. Bessemer Group Inc. now owns 9,143 shares of the company’s stock valued at $56,000 after purchasing an additional 2,768 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors.

LifeStance Health Group Price Performance

NASDAQ LFST traded up $0.08 on Wednesday, hitting $5.74. 48,365 shares of the stock traded hands, compared to its average volume of 1,464,095. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average is $5.74 and its two-hundred day moving average is $6.28. LifeStance Health Group has a 12 month low of $4.64 and a 12 month high of $9.50.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $300.44 million during the quarter, compared to analyst estimates of $299.02 million. LifeStance Health Group had a negative return on equity of 11.92% and a negative net margin of 15.69%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. As a group, research analysts forecast that LifeStance Health Group will post -0.26 earnings per share for the current year.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.