LifeStance Health Group (NASDAQ:LFST) Director Darren Black Sells 5,899,661 Shares

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 5,899,661 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the transaction, the director owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

LifeStance Health Group Price Performance

Shares of LFST stock traded down $0.21 during trading hours on Thursday, reaching $7.89. The company had a trading volume of 5,260,978 shares, compared to its average volume of 3,283,413. LifeStance Health Group, Inc. has a 12-month low of $3.74 and a 12-month high of $8.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.65 and a current ratio of 1.48. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 131.50 and a beta of 1.20. The stock has a fifty day moving average of $6.86 and a 200-day moving average of $6.76.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data 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. The company had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities analysts anticipate that LifeStance Health Group, Inc. will post 0.11 earnings per share for the current year.

LifeStance Health Group declared that its board has approved a stock repurchase program on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of LifeStance Health Group by 19.5% during the third quarter. Vanguard Group Inc. now owns 14,613,535 shares of the company’s stock valued at $80,374,000 after acquiring an additional 2,383,728 shares during the last quarter. Everhart Financial Group Inc. acquired a new position in shares of LifeStance Health Group in the 4th quarter worth approximately $787,000. Tudor Investment Corp ET AL acquired a new position in shares of LifeStance Health Group in the 3rd quarter worth approximately $1,040,000. Integral Health Asset Management LLC purchased a new position in shares of LifeStance Health Group during the 3rd quarter worth approximately $8,250,000. Finally, AustralianSuper Pty Ltd purchased a new position in shares of LifeStance Health Group during the 3rd quarter worth approximately $17,056,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Analyst Ratings Changes

LFST has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. JPMorgan Chase & Co. increased their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings raised shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. Finally, BTIG Research increased their price objective on LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $9.86.

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.