Bank of America Corp DE Purchases New Stake in LifeStance Health Group, Inc. $LFST

Key Points

• Bank of America acquired 1.4 million LifeStance Health shares worth approximately $15 million, giving it a 0.36% stake. Institutional investors collectively own 85.5% of the company.
• LifeStance reported quarterly EPS of $0.06, beating estimates of $0.03, while revenue rose 26.1% year over year to $435.35 million. Analysts expect full-year EPS of $0.16.
• The stock has a “Moderate Buy” consensus rating with an average price target of $12.88, although company insiders sold substantial shares recently, including 13.8 million shares worth $146.4 million over the past three months.

Bank of America Corp DE purchased a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,399,353 shares of the company's stock, valued at approximately $14,987,000. Bank of America Corp DE owned about 0.36% of LifeStance Health Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Silversmith Partners I GP LLC acquired a new position in LifeStance Health Group during the 4th quarter valued at about $100,842,000. Moran Wealth Management LLC bought a new position in shares of LifeStance Health Group during the 1st quarter worth $953,000. Orbimed Advisors LLC purchased a new stake in LifeStance Health Group in the 1st quarter worth about $3,185,000. Renaissance Technologies LLC increased its holdings in LifeStance Health Group by 92.5% in the 1st quarter. Renaissance Technologies LLC now owns 800,500 shares of the company's stock worth $5,099,000 after acquiring an additional 384,600 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in LifeStance Health Group in the 2nd quarter valued at about $389,293,000. Institutional investors own 85.50% of the company's stock.

LifeStance Health Group Stock Up 0.3%

LifeStance Health Group stock opened at $11.84 on Friday. The business's 50-day simple moving average is $11.99 and its two-hundred day simple moving average is $9.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $4.52 billion, a PE ratio of 91.08 and a beta of 1.22. LifeStance Health Group, Inc. has a fifty-two week low of $4.77 and a fifty-two week high of $13.56.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The business had revenue of $435.35 million for the quarter, compared to the consensus estimate of $414.58 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business's revenue for the quarter was up 26.1% on a year-over-year basis. Equities analysts anticipate that LifeStance Health Group, Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

LFST has been the subject of a number of analyst reports. Zacks Research lowered shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen lowered shares of LifeStance Health Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. BTIG Research raised their price target on LifeStance Health Group from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Weiss Ratings raised LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group lifted their price objective on LifeStance Health Group from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, LifeStance Health Group currently has an average rating of "Moderate Buy" and a consensus price target of $12.88.

Insider Activity

In other news, CTO Vukasin Paunovich sold 44,394 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total transaction of $481,674.90. Following the completion of the sale, the chief technology officer owned 247,446 shares of the company's stock, valued at $2,684,789.10. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Lisa K. Miller sold 47,912 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the transaction, the chief operating officer owned 281,289 shares of the company's stock, valued at approximately $3,051,985.65. This trade represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,777,580 shares of company stock valued at $146,433,781 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc is a behavioral health care company that provides outpatient mental health services through in-person and virtual appointments. Its platform connects patients with psychiatrists, psychologists, psychiatric nurse practitioners, therapists and other licensed clinicians.

The company offers services that may include psychotherapy, psychiatric evaluations, medication management and treatment for conditions such as anxiety, depression, attention-deficit/hyperactivity disorder and other behavioral health needs.

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