Fifth Third Bancorp Takes Position in LifeStance Health Group, Inc. $LFST

Fifth Third Bancorp acquired a new stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 118,561 shares of the company’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in LifeStance Health Group by 63.4% in the first quarter. Royal Bank of Canada now owns 70,248 shares of the company’s stock worth $468,000 after purchasing an additional 27,244 shares during the last quarter. AQR Capital Management LLC raised its stake in LifeStance Health Group by 223.0% during the 1st quarter. AQR Capital Management LLC now owns 51,500 shares of the company’s stock valued at $343,000 after buying an additional 35,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of LifeStance Health Group by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company’s stock valued at $952,000 after buying an additional 4,169 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of LifeStance Health Group by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company’s stock valued at $4,100,000 after buying an additional 11,331 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of LifeStance Health Group by 10.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company’s stock worth $2,847,000 after buying an additional 51,154 shares during the last quarter. Institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Stock Down 0.2%

LFST stock opened at $10.88 on Tuesday. The business’s 50-day moving average price is $9.39 and its 200-day moving average price is $7.85. The stock has a market cap of $4.22 billion, a P/E ratio of 181.33 and a beta of 1.12. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. LifeStance Health Group, Inc. has a twelve month low of $3.74 and a twelve month high of $11.76.

LifeStance Health Group (NASDAQ:LFST) last released its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $403.48 million during the quarter, compared to analyst estimates of $387.46 million. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Robert Bessler sold 894,337 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the sale, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. This trade represents a 62.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the transaction, the director owned 867,562 shares in the company, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,687,394 shares of company stock worth $63,579,701 in the last three months. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays lifted their price objective on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Zacks Research cut shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group initiated coverage on shares of LifeStance Health Group in a research note on Friday, June 5th. They set a “neutral” rating and a $9.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

LifeStance Health Group 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.