Virtus Advisers LLC Acquires New Stake in LifeStance Health Group, Inc. $LFST

Virtus Advisers LLC acquired a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 115,039 shares of the company’s stock, valued at approximately $1,232,000.

A number of other large investors also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock worth $60,000 after acquiring an additional 1,367 shares during the period. California State Teachers Retirement System boosted its holdings in shares of LifeStance Health Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 125,682 shares of the company’s stock valued at $885,000 after acquiring an additional 1,966 shares in the last quarter. Vident Advisory LLC increased its stake in shares of LifeStance Health Group by 12.7% during the second quarter. Vident Advisory LLC now owns 21,732 shares of the company’s stock worth $112,000 after acquiring an additional 2,447 shares during the period. Xponance LLC increased its stake in shares of LifeStance Health Group by 26.4% during the fourth quarter. Xponance LLC now owns 13,144 shares of the company’s stock worth $93,000 after acquiring an additional 2,745 shares during the period. Finally, Diversified Trust Co increased its stake in shares of LifeStance Health Group by 14.8% during the first quarter. Diversified Trust Co now owns 21,532 shares of the company’s stock worth $137,000 after acquiring an additional 2,770 shares during the period. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $12.65 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $10.76 and a two-hundred day moving average price of $8.38. LifeStance Health Group, Inc. has a twelve month low of $4.77 and a twelve month high of $12.97. The company has a market capitalization of $4.91 billion, a P/E ratio of 97.32 and a beta of 1.14.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $435.35 million for the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts expect that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LFST shares. BTIG Research raised their price objective on shares of LifeStance Health Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group boosted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. KeyCorp boosted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Barclays increased their target price on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Insider Buying and Selling

In related news, Director Robert Bessler sold 894,337 shares of LifeStance Health Group stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the transaction, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. The trade was a 62.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.62, for a total value of $144,890,858.34. Following the completion of the sale, the insider directly owned 98,101,407 shares in the company, valued at approximately $1,041,836,942.34. The trade was a 12.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 14,629,850 shares of company stock valued at $154,952,012. 3.50% of the stock is currently owned by company insiders.

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.