Virtus Advisers LLC Makes New $1.23 Million Investment in LifeStance Health Group, Inc. $LFST

Key Points

• Virtus Advisers acquired 115,039 LifeStance shares worth approximately $1.23 million during the second quarter. Institutional investors collectively own 85.5% of the company.
• Insiders sold substantial holdings, including Director Robert Bessler’s sale of 894,337 shares and COO Lisa Miller’s sale of 47,912 shares; insiders sold $155 million of stock over the past 90 days.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $12.38 price target. LifeStance recently beat quarterly earnings and revenue estimates, with revenue rising 26.1% year over year.

Virtus Advisers LLC acquired a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 115,039 shares of the company's stock, valued at approximately $1,232,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silversmith Partners I GP LLC purchased a new position in LifeStance Health Group in the fourth quarter valued at approximately $100,842,000. First Eagle Investment Management LLC raised its holdings in LifeStance Health Group by 13.3% during the fourth quarter. First Eagle Investment Management LLC now owns 1,496,466 shares of the company's stock worth $10,535,000 after purchasing an additional 176,000 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of LifeStance Health Group during the 1st quarter worth approximately $953,000. Jennison Associates LLC lifted its position in shares of LifeStance Health Group by 38.5% during the 1st quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock worth $65,157,000 after buying an additional 2,843,388 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new position in shares of LifeStance Health Group in the 1st quarter valued at $3,185,000. Institutional investors and hedge funds own 85.50% of the company's stock.

Insider Buying and Selling at LifeStance Health Group

In related news, Director Robert Bessler sold 894,337 shares of the firm's stock in a transaction dated 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 transaction, the director owned 539,763 shares of the company's stock, valued at $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Lisa K. Miller sold 47,912 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $519,845.20. Following the completion of the transaction, the chief operating officer owned 281,289 shares in the company, valued at $3,051,985.65. This trade represents a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,629,850 shares of company stock valued at $154,952,012 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Weiss Ratings raised LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Canaccord Genuity Group raised their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, LifeStance Health Group presently has an average rating of "Moderate Buy" and a consensus price target of $12.38.

LifeStance Health Group Stock Performance

Shares of LifeStance Health Group stock opened at $12.65 on Friday. The firm's fifty day simple moving average is $10.76 and its 200-day simple moving average is $8.38. LifeStance Health Group, Inc. has a 12 month low of $4.77 and a 12 month high of $12.97. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 97.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38.

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

About LifeStance Health Group

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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