LifeStance Health Group (NASDAQ:LFST) Shares Gap Down After Analyst Downgrade

LifeStance Health Group, Inc. (NASDAQ:LFST) gapped down before the market opened on Friday after Barclays lowered their price target on the stock from $8.00 to $6.00. The stock had previously closed at $5.93, but opened at $5.76. Barclays currently has an underweight rating on the stock. LifeStance Health Group shares last traded at $5.68, with a volume of 125,183 shares.

Separately, Morgan Stanley reaffirmed an “overweight” rating and set a $10.00 price objective on shares of LifeStance Health Group in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.40.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, insider Danish J. Qureshi sold 150,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $5.21, for a total value of $781,500.00. Following the completion of the sale, the insider now directly owns 439,002 shares of the company’s stock, valued at approximately $2,287,200.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Danish J. Qureshi sold 150,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $5.21, for a total value of $781,500.00. Following the completion of the transaction, the insider now owns 439,002 shares in the company, valued at approximately $2,287,200.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Summit Partners Growth Equity sold 3,802,345 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $5.89, for a total transaction of $22,395,812.05. Following the completion of the transaction, the insider now owns 41,932,358 shares of the company’s stock, valued at approximately $246,981,588.62. The disclosure for this sale can be found here. Insiders sold a total of 4,085,716 shares of company stock valued at $23,996,444 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds have recently made changes to their positions in the business. Choreo LLC acquired a new position in shares of LifeStance Health Group in the 2nd quarter valued at $134,000. Arizona State Retirement System raised its stake in shares of LifeStance Health Group by 22.9% in the 2nd quarter. Arizona State Retirement System now owns 31,972 shares of the company’s stock valued at $157,000 after buying an additional 5,959 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of LifeStance Health Group by 27.0% in the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock valued at $71,000 after buying an additional 3,063 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of LifeStance Health Group in the 2nd quarter valued at $623,000. Finally, Rhumbline Advisers increased its position in shares of LifeStance Health Group by 17.6% during the 2nd quarter. Rhumbline Advisers now owns 182,131 shares of the company’s stock worth $894,000 after purchasing an additional 27,280 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Stock Down 2.9 %

The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -11.83 and a beta of 1.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day moving average is $5.38 and its 200-day moving average is $6.10.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $305.85 million. LifeStance Health Group had a negative net margin of 15.69% and a negative return on equity of 11.92%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. On average, equities analysts predict that LifeStance Health Group, Inc. will post -0.25 EPS for the current year.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.