Mackenzie Financial Corp Invests $1.34 Million 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 acquired a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 200,951 shares of the company's stock, valued at approximately $1,338,000. Mackenzie Financial Corp owned approximately 0.05% of LifeStance Health Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in LifeStance Health Group by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 10,689,396 shares of the company's stock valued at $78,781,000 after purchasing an additional 784,818 shares in the last quarter. Jennison Associates LLC boosted its holdings in LifeStance Health Group by 2.1% in the first quarter. Jennison Associates LLC now owns 8,255,236 shares of the company's stock valued at $54,980,000 after purchasing an additional 168,856 shares in the last quarter. Wellington Management Group LLP boosted its holdings in LifeStance Health Group by 9.2% in the fourth quarter. Wellington Management Group LLP now owns 5,276,237 shares of the company's stock valued at $38,886,000 after purchasing an additional 445,796 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in LifeStance Health Group by 87.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,524,529 shares of the company's stock valued at $25,977,000 after purchasing an additional 1,643,390 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in LifeStance Health Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,465,471 shares of the company's stock valued at $25,546,000 after purchasing an additional 13,293 shares in the last quarter. 85.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LifeStance Health Group

In other news, insider Ujjwal Ramtekkar sold 16,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was 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 approximately $673,803.90. This represents a 12.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company's stock.

LifeStance Health Group Price Performance

LFST stock opened at $3.90 on Tuesday. The company has a market capitalization of $1.52 billion, a P/E ratio of -39.00 and a beta of 1.14. LifeStance Health Group, Inc. has a twelve month low of $3.74 and a twelve month high of $8.61. The business has a 50 day simple moving average of $4.93 and a 200-day simple moving average of $6.28. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

A number of brokerages recently issued reports on LFST. BTIG Research began coverage on LifeStance Health Group in a report on Friday, July 25th. They issued a "buy" rating and a $8.00 price target for the company. KeyCorp started coverage on LifeStance Health Group in a report on Tuesday, April 8th. They issued an "overweight" rating and a $9.00 price target for the company. Finally, UBS Group raised LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 price objective for the company in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $8.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.