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

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

LifeStance Health Group Trading Down 2.6%

LifeStance Health Group stock opened at $7.89 on Friday. The stock has a market cap of $3.06 billion, a P/E ratio of 131.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.65. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.89. The firm’s 50 day moving average price is $6.87 and its 200-day moving average price is $6.78.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $403.48 million for the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The company’s revenue was up 21.2% on a year-over-year basis. On average, equities analysts predict that LifeStance Health Group, Inc. will post 0.11 earnings per share for the current fiscal year.

LifeStance Health Group announced that its Board of Directors has authorized a stock repurchase 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 usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

LFST has been the topic of several research reports. Wall Street Zen upgraded shares of LifeStance Health Group from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Jefferies Financial Group upgraded shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. KeyCorp boosted their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.86.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LFST. Larson Financial Group LLC boosted its stake in shares of LifeStance Health Group by 19,952.6% during the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after purchasing an additional 3,791 shares during the period. KBC Group NV purchased a new stake in shares of LifeStance Health Group during the first quarter valued at $29,000. PNC Financial Services Group Inc. boosted its stake in shares of LifeStance Health Group by 615.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after purchasing an additional 7,987 shares during the period. Assetmark Inc. boosted its stake in shares of LifeStance Health Group by 17.0% during the first quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock valued at $60,000 after purchasing an additional 1,367 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of LifeStance Health Group during the second quarter valued at $52,000. Institutional investors own 85.50% of the company’s stock.

Trending Headlines about LifeStance Health Group

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

• Positive Sentiment: JPMorgan raised its price target on LifeStance Health Group to $9.00 from $8.00, while keeping a neutral rating, suggesting modest upside from current levels. JPMorgan raises price target on LifeStance Health Group
• Positive Sentiment: Barclays reiterated a Buy rating on LFST, reinforcing bullish analyst views around the stock. Barclays sticks to its Buy rating for LifeStance Health Group
• Positive Sentiment: Recent coverage also highlighted rising earnings estimates and strong momentum, which can support investor confidence in LFST’s near-term outlook. Earnings estimates rising for LifeStance Health
• Neutral Sentiment: LifeStance Health presented at the Bank of America Global Healthcare Conference, which keeps the company in front of investors but does not appear to be a major fresh catalyst on its own. LifeStance Health presents at Bank of America Global Healthcare Conference
• Negative Sentiment: Directors Darren M. Black, Eric Shuey, and Robert Bessler collectively sold millions of shares at $8.02, which may pressure sentiment because insider selling can be viewed as a lack of conviction at current prices. Insider sale filing for Darren M. Black

About LifeStance Health Group

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.