Victory Capital Management Inc. Boosts Stock Holdings in LifeStance Health Group, Inc. (NASDAQ:LFST)

Key Points

• Victory Capital Management Inc. significantly increased its ownership in LifeStance Health Group, raising its position by 2,599% to own 370,598 shares valued at approximately $2.47 million.
• Several major institutional investors have also boosted their investments in LifeStance, with 85.50% of the stock now held by hedge funds and institutions.
• Analysts have generally expressed a positive outlook for LifeStance Health Group, with a consensus rating of "Moderate Buy" and an average target price of $8.42.

Victory Capital Management Inc. boosted its position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) by 2,599.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370,598 shares of the company's stock after acquiring an additional 356,867 shares during the period. Victory Capital Management Inc. owned 0.10% of LifeStance Health Group worth $2,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LFST. DekaBank Deutsche Girozentrale bought a new position in LifeStance Health Group in the 1st quarter valued at $31,000. Xponance Inc. purchased a new position in LifeStance Health Group in the 1st quarter worth $69,000. Ameriprise Financial Inc. purchased a new position in LifeStance Health Group in the 4th quarter worth $87,000. Forum Financial Management LP purchased a new position in shares of LifeStance Health Group in the fourth quarter valued at about $110,000. Finally, MQS Management LLC purchased a new position in shares of LifeStance Health Group in the first quarter valued at about $119,000. Institutional investors own 85.50% of the company's stock.

LifeStance Health Group Stock Performance

LFST stock traded down $0.04 during midday trading on Tuesday, reaching $4.13. 2,310,302 shares of the company's stock traded hands, compared to its average volume of 2,304,159. LifeStance Health Group, Inc. has a 52-week low of $4.09 and a 52-week high of $8.61. The stock has a market cap of $1.61 billion, a P/E ratio of -41.30 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average is $5.06 and its 200 day moving average is $6.40.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of LifeStance Health Group in a research report on Thursday, April 3rd. They set a "buy" rating and a $8.00 price target on the stock. KeyCorp assumed coverage on shares of LifeStance Health Group in a research note on Tuesday, April 8th. They set an "overweight" rating and a $9.00 price objective on the stock. BTIG Research started coverage on shares of LifeStance Health Group in a research note on Friday. They set a "buy" rating and a $8.00 price objective on the stock. Finally, UBS Group upgraded shares of LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 target price on the stock in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $8.42.

Insider Activity

In other news, insider Ujjwal Ramtekkar sold 16,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $5.94, for a total value of $95,040.00. Following the completion of the sale, the insider directly owned 113,435 shares of the company's stock, valued at $673,803.90. This represents a 12.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.60% of the stock is currently owned by company insiders.

About LifeStance Health Group

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.