Formula Growth Ltd. Invests $1.55 Million in LifeStance Health Group, Inc. $LFST

Key Points

• Formula Growth Ltd. acquired 145,000 LifeStance shares worth approximately $1.55 million in the second quarter. Institutional investors collectively own 85.5% of the company.
• LifeStance exceeded quarterly expectations, reporting $0.06 EPS versus the $0.03 consensus and $435.35 million in revenue, up 26.1% year over year.
• Insiders sold 14.63 million shares worth roughly $155 million over the past three months, while analysts maintain a “Moderate Buy” consensus with an average price target of $12.38.

Formula Growth Ltd. bought a new position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 145,000 shares of the company's stock, valued at approximately $1,553,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LFST. Larson Financial Group LLC grew its stake in shares of LifeStance Health Group by 19,952.6% during the 4th 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 period. KBC Group NV bought a new stake in shares of LifeStance Health Group during the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC raised its position in shares of LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock valued at $44,000 after purchasing an additional 5,404 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of LifeStance Health Group by 615.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company's stock valued at $59,000 after buying an additional 7,987 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of LifeStance Health Group by 17.0% during the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after buying an additional 1,367 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company's stock.

LifeStance Health Group Price Performance

Shares of LifeStance Health Group stock opened at $12.30 on Friday. The firm has a market cap of $4.77 billion, a PE ratio of 94.62 and a beta of 1.14. The stock has a 50 day moving average of $11.13 and a 200 day moving average of $8.57. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. LifeStance Health Group, Inc. has a 12 month low of $4.77 and a 12 month high of $12.97.

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

Insider Buying and Selling

In other news, CTO Vukasin Paunovich sold 44,394 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $481,674.90. Following the transaction, the chief technology officer owned 247,446 shares of the company's stock, valued at approximately $2,684,789.10. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the stock in a transaction 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 sale, the insider owned 98,101,407 shares in the company, valued at $1,041,836,942.34. The trade was a 12.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LFST shares. Barclays raised their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Wall Street Zen upgraded LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, BTIG Research upped their target price on shares of LifeStance Health Group from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

LifeStance Health Group Company 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.

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