LifeStance Health Group, Inc. $LFST Shares Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lifted its holdings in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,084 shares of the company’s stock after purchasing an additional 84,542 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in LifeStance Health Group were worth $1,190,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of LifeStance Health Group by 19.5% in the third quarter. Vanguard Group Inc. now owns 14,613,535 shares of the company’s stock worth $80,374,000 after acquiring an additional 2,383,728 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of LifeStance Health Group in the fourth quarter worth approximately $787,000. Tudor Investment Corp ET AL acquired a new stake in shares of LifeStance Health Group in the third quarter worth approximately $1,040,000. Integral Health Asset Management LLC acquired a new stake in shares of LifeStance Health Group in the third quarter worth approximately $8,250,000. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of LifeStance Health Group in the third quarter worth approximately $17,056,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Trading Up 2.6%

NASDAQ LFST opened at $7.86 on Thursday. The company’s fifty day simple moving average is $7.26 and its 200-day simple moving average is $7.03. LifeStance Health Group, Inc. has a 52 week low of $3.74 and a 52 week high of $8.89. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.05 billion, a P/E ratio of 131.00 and a beta of 1.19.

LifeStance Health Group (NASDAQ:LFST) last posted its earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping 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 business had revenue of $403.48 million for the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group’s revenue was up 21.2% on a year-over-year basis. Equities research analysts predict that LifeStance Health Group, Inc. will post 0.12 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, Director Darren M. Black sold 5,899,661 shares of the business’s stock in a transaction dated 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. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Bessler sold 575,034 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $4,611,772.68. Following the completion of the transaction, the director owned 986,931 shares in the company, valued at approximately $7,915,186.62. This trade represents a 36.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 6,868,057 shares of company stock worth $55,048,226. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Jefferies Financial Group upgraded LifeStance Health Group to a “strong-buy” rating in a report on Thursday, March 12th. Canaccord Genuity Group lifted their target price on LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barclays lifted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Finally, Wall Street Zen upgraded LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.75.

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.