Mackenzie Financial Corp Makes New Investment in LifeStance Health Group, Inc. (NASDAQ:LFST)

Key Points

• Mackenzie Financial Corp has invested $1.34 million in LifeStance Health Group, acquiring approximately 200,951 shares, which represents 0.05% of the company's stock.
• Multiple institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have increased their stakes in LifeStance Health Group, indicating strong institutional interest with 85.50% of the stock owned by such investors.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price averaging $8.42, suggesting potential for growth despite current trading around $3.90.

Mackenzie Financial Corp purchased a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 200,951 shares of the company's stock, valued at approximately $1,338,000. Mackenzie Financial Corp owned 0.05% of LifeStance Health Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LFST. Parcion Private Wealth LLC purchased a new stake in LifeStance Health Group in the first quarter valued at approximately $15,670,000. Janus Henderson Group PLC raised its stake in LifeStance Health Group by 51.4% during the fourth quarter. Janus Henderson Group PLC now owns 59,500 shares of the company's stock worth $439,000 after purchasing an additional 20,200 shares during the period. Northern Trust Corp boosted its holdings in shares of LifeStance Health Group by 11.7% in the 4th quarter. Northern Trust Corp now owns 1,591,776 shares of the company's stock valued at $11,731,000 after purchasing an additional 166,731 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of LifeStance Health Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,465,471 shares of the company's stock valued at $25,546,000 after buying an additional 13,293 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of LifeStance Health Group by 2,599.0% during the 1st quarter. Victory Capital Management Inc. now owns 370,598 shares of the company's stock worth $2,468,000 after buying an additional 356,867 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company's stock.

Insider Activity at LifeStance Health Group

In related news, insider Ujjwal Ramtekkar sold 16,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $5.94, for a total transaction of $95,040.00. Following the transaction, the insider directly owned 113,435 shares of the company's stock, valued at approximately $673,803.90. The trade was a 12.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

LifeStance Health Group Stock Up 11.6%

Shares of NASDAQ:LFST traded up $0.45 during midday trading on Friday, hitting $4.31. 3,729,210 shares of the company's stock traded hands, compared to its average volume of 1,888,585. The firm's fifty day moving average price is $4.80 and its two-hundred day moving average price is $6.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.47 and a current ratio of 1.47. LifeStance Health Group, Inc. has a twelve month low of $3.74 and a twelve month high of $8.61. The company has a market cap of $1.68 billion, a PE ratio of -43.25 and a beta of 1.13.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $345.31 million for the quarter, compared to analyst estimates of $345.05 million. LifeStance Health Group had a negative return on equity of 2.47% and a negative net margin of 2.78%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. On average, equities research analysts anticipate that LifeStance Health Group, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

LFST has been the topic of a number of research analyst reports. UBS Group lifted their target price on LifeStance Health Group from $8.50 to $9.00 and gave the company a "buy" rating in a report on Friday. BTIG Research assumed coverage on LifeStance Health Group in a report on Friday, July 25th. They issued a "buy" rating and a $8.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

LifeStance Health Group Profile

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.