ArrowMark Colorado Holdings LLC Takes $527,000 Position in LifeStance Health Group, Inc. $LFST

ArrowMark Colorado Holdings LLC acquired a new position in LifeStance Health Group, Inc. (NASDAQ:LFST) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 95,830 shares of the company’s stock, valued at approximately $527,000.

A number of other hedge funds have also bought and sold shares of the business. Algert Global LLC bought a new stake in shares of LifeStance Health Group in the third quarter worth approximately $1,681,000. Alliancebernstein L.P. boosted its holdings in LifeStance Health Group by 3.5% in the third quarter. Alliancebernstein L.P. now owns 189,153 shares of the company’s stock worth $1,040,000 after purchasing an additional 6,447 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in LifeStance Health Group by 84.5% in the third quarter. Ameriprise Financial Inc. now owns 144,238 shares of the company’s stock worth $793,000 after purchasing an additional 66,074 shares during the last quarter. Creative Planning bought a new stake in LifeStance Health Group in the 3rd quarter worth approximately $1,429,000. Finally, Lazard Asset Management LLC bought a new stake in LifeStance Health Group in the 3rd quarter worth approximately $269,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Price Performance

Shares of LifeStance Health Group stock opened at $6.45 on Tuesday. The stock has a market cap of $2.51 billion, a P/E ratio of 322.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 1.65. The stock’s fifty day moving average is $7.07 and its 200 day moving average is $6.33. LifeStance Health Group, Inc. has a one year low of $3.74 and a one year high of $8.09.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The company had revenue of $382.20 million for the quarter, compared to the consensus estimate of $378.51 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current year.

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

Insider Activity at LifeStance Health Group

In related news, Director Robert Bessler sold 119,942 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $7.04, for a total value of $844,391.68. Following the completion of the transaction, the director owned 1,318,983 shares of the company’s stock, valued at approximately $9,285,640.32. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ann Varanakis sold 50,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was 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 $2,177,709. The trade was a 13.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,493,024 shares of company stock worth $31,494,183. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group raised their price target on LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. UBS Group upped their price objective on LifeStance Health Group from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. KeyCorp increased their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. BTIG Research raised their target price on LifeStance Health Group from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.83.

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.