The Manufacturers Life Insurance Company Acquires New Position in LifeStance Health Group, Inc. $LFST

Key Points

• Institutional interest increased: The Manufacturers Life Insurance Company acquired 90,209 LifeStance shares worth approximately $966,000. Institutional investors and hedge funds collectively own 85.5% of LFST.
• Insiders have been selling: Company insiders sold 14.67 million shares valued at about $155.5 million over the past 90 days, reducing insider ownership to 3.5%.
• Analyst sentiment remains moderately positive: Analysts’ consensus rating is “Moderate Buy,” with an average price target of $12.38, while recent targets range from $13 to $18. The company also exceeded quarterly EPS and revenue expectations, reporting $435.35 million in revenue, up 26.1% year over year.

The Manufacturers Life Insurance Company bought a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90,209 shares of the company's stock, valued at approximately $966,000.

A number of other hedge funds also recently added to or reduced their stakes in LFST. BlackRock Inc. acquired a new position in shares of LifeStance Health Group in the second quarter worth $389,293,000. Silversmith Partners I GP LLC acquired a new stake in shares of LifeStance Health Group in the fourth quarter valued at $100,842,000. Vanguard Group Inc. raised its stake in shares of LifeStance Health Group by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company's stock valued at $124,608,000 after acquiring an additional 3,086,506 shares in the last quarter. Jennison Associates LLC boosted its holdings in LifeStance Health Group by 38.5% in the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock valued at $65,157,000 after purchasing an additional 2,843,388 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in LifeStance Health Group by 62.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,793,336 shares of the company's stock valued at $26,363,000 after purchasing an additional 1,839,465 shares during the period. 85.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LifeStance Health Group news, COO Lisa Miller sold 47,912 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $519,845.20. Following the transaction, the chief operating officer directly owned 281,289 shares in the company, valued at $3,051,985.65. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Bessler sold 894,337 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the sale, the director directly owned 539,763 shares in the company, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 14,671,917 shares of company stock valued at $155,493,415. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on LifeStance Health Group from $9.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. The Goldman Sachs Group started coverage on LifeStance Health Group in a research note on Friday, June 5th. They issued a "neutral" rating and a $9.00 price objective for the company. Weiss Ratings raised LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. 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 note on Wednesday, August 19th. Finally, Canaccord Genuity Group raised their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.38.

LifeStance Health Group Stock Down 0.8%

Shares of NASDAQ LFST opened at $12.73 on Friday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 97.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50-day moving average of $11.49 and a two-hundred day moving average of $8.80. LifeStance Health Group, Inc. has a 1 year low of $4.77 and a 1 year high of $13.15.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $414.58 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business's quarterly revenue was up 26.1% compared to the same quarter last year. On average, analysts forecast that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

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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