Stock Buyback Plan Authorized by LifeStance Health Group (NASDAQ:LFST)

LifeStance Health Group (NASDAQ:LFSTGet Free Report) declared that its board has initiated a share buyback plan on Wednesday, February 25th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

LifeStance Health Group Trading Up 3.8%

Shares of LFST stock traded up $0.27 on Wednesday, reaching $7.41. 6,148,802 shares of the stock were exchanged, compared to its average volume of 1,661,335. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.88 billion, a P/E ratio of -247.00 and a beta of 1.12. The firm has a 50 day moving average of $7.12 and a two-hundred day moving average of $6.18. LifeStance Health Group has a 1-year low of $3.74 and a 1-year high of $8.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of LifeStance Health Group in a research report on Monday, December 29th. Zacks Research downgraded LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. BTIG Research raised their price objective on LifeStance Health Group from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. BMO Capital Markets started coverage on LifeStance Health Group in a research report on Thursday, November 13th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Read Our Latest Report on LFST

Key Stories Impacting LifeStance Health Group

Here are the key news stories impacting LifeStance Health Group this week:

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, Director Robert Bessler sold 119,942 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $7.04, for a total transaction of $844,391.68. Following the completion of the sale, the director directly owned 1,318,983 shares in the company, valued at $9,285,640.32. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann Varanakis sold 50,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $6.90, for a total value of $345,000.00. Following the completion of the sale, the insider owned 315,610 shares of the company’s stock, valued at approximately $2,177,709. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 270,086 shares of company stock worth $1,891,264. Company insiders own 3.20% of the company’s stock.

About LifeStance Health Group

Get Free Report)

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.

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