Key Points
- Director Darren Black sold 4,314,939 shares on March 2 at an average price of $7.01 for roughly $30.25 million, leaving him with 29,209,776 shares and reducing his stake by 12.87%.
- The board authorized a $100 million stock buyback (up to about 3.6% of outstanding shares), a move typically interpreted as a signal the company believes its stock is undervalued.
- In the latest quarter LifeStance reported revenue of $382.2 million (up 17.4% YoY) but missed on EPS at $0.03 vs. a $0.05 consensus, and analysts forecast a full-year EPS of around -0.18.
LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) Director Darren Black sold 4,314,939 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total value of $30,247,722.39. Following the sale, the director directly owned 29,209,776 shares in the company, valued at $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
LifeStance Health Group Trading Up 0.8%
LFST stock opened at $7.33 on Thursday. The firm has a fifty day moving average price of $7.14 and a 200 day moving average price of $6.25. LifeStance Health Group, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $8.30. The firm has a market cap of $2.86 billion, a PE ratio of 366.68 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.
LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 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 business had revenue of $382.20 million for the quarter, compared to the consensus estimate of $378.51 million. During the same quarter last year, the business earned ($0.01) EPS. LifeStance Health Group's revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current fiscal year.
LifeStance Health Group announced that its board has authorized a stock buyback plan on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On LifeStance Health Group
Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in 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 acquiring an additional 3,791 shares during the last quarter. Bayesian Capital Management LP purchased a new position in LifeStance Health Group in the second quarter worth $52,000. Krane Funds Advisors LLC acquired a new position in shares of LifeStance Health Group during the fourth quarter worth $71,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of LifeStance Health Group during the 3rd quarter valued at $72,000. Finally, Cibc World Markets Corp acquired a new stake in shares of LifeStance Health Group in the 4th quarter worth $77,000. 85.50% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LFST has been the topic of several recent analyst reports. UBS Group increased their target price on shares of LifeStance Health Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. BMO Capital Markets started coverage on shares of LifeStance Health Group in a research report on Thursday, November 13th. They issued an "outperform" rating and a $8.00 price objective on the stock. BTIG Research boosted their price objective on LifeStance Health Group from $10.00 to $11.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Barclays assumed coverage on LifeStance Health Group in a research report on Tuesday, December 9th. They issued an "overweight" rating and a $8.00 price objective on the stock. Finally, KeyCorp lifted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.67.
Check Out Our Latest Report on LifeStance Health Group
LifeStance Health Group Company Profile
(
Get Free Report)
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.
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