Short Interest in LifeStance Health Group, Inc. (NASDAQ:LFST) Expands By 32.8%

LifeStance Health Group, Inc. (NASDAQ:LFST) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 10,322,332 shares, a growth of 32.8% from the February 12th total of 7,775,255 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 3,116,587 shares, the short-interest ratio is presently 3.3 days. Based on an average trading volume of 3,116,587 shares, the short-interest ratio is presently 3.3 days. Approximately 2.8% of the shares of the company are sold short.

LifeStance Health Group Price Performance

NASDAQ LFST remained flat at $6.33 during trading hours on Friday. The company had a trading volume of 2,293,062 shares, compared to its average volume of 2,976,817. LifeStance Health Group has a one year low of $3.74 and a one year high of $8.09. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.47 billion, a P/E ratio of 316.66 and a beta of 1.11. The business’s 50-day moving average is $7.08 and its 200-day moving average is $6.31.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data 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 quarter in the previous year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts anticipate that LifeStance Health Group will post -0.18 EPS for the current fiscal year.

LifeStance Health Group announced that its board has initiated a share buyback plan on Wednesday, February 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen raised LifeStance Health Group from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Canaccord Genuity Group increased their target price on shares of LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group upgraded shares of LifeStance Health Group to a “strong-buy” rating in a research note on Thursday. KeyCorp upped their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings raised shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Insider Activity

In other news, Director Robert Bessler sold 119,942 shares of LifeStance Health Group stock in a transaction on Friday, December 19th. The shares were sold at an average price of $7.04, for a total transaction of $844,391.68. Following the transaction, the director owned 1,318,983 shares in the company, valued at $9,285,640.32. This trade represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ann Varanakis sold 50,000 shares of the company’s 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. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,505,395 shares of company stock valued at $31,580,780 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of LifeStance Health Group by 63.4% during the 1st 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 boosted its holdings in shares of LifeStance Health Group by 223.0% during the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company’s stock worth $343,000 after purchasing an additional 35,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $952,000 after purchasing an additional 4,169 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in LifeStance Health Group by 1.9% in the first 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 purchasing an additional 11,331 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in LifeStance Health Group during the 2nd quarter worth approximately $219,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

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.