First Trust Advisors LP Makes New $4.54 Million Investment in LifeStance Health Group, Inc. (NASDAQ:LFST)

First Trust Advisors LP acquired a new position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 615,335 shares of the company's stock, valued at approximately $4,535,000. First Trust Advisors LP owned approximately 0.16% of LifeStance Health Group as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of LifeStance Health Group by 124.4% during the 4th quarter. Blue Trust Inc. now owns 3,828 shares of the company's stock worth $27,000 after acquiring an additional 2,122 shares in the last quarter. R Squared Ltd purchased a new position in LifeStance Health Group in the fourth quarter worth $80,000. Cibc World Markets Corp acquired a new position in shares of LifeStance Health Group during the fourth quarter worth $96,000. Forum Financial Management LP purchased a new stake in shares of LifeStance Health Group during the 4th quarter valued at $110,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of LifeStance Health Group in the 4th quarter worth $128,000. Hedge funds and other institutional investors own 85.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LFST. William Blair reaffirmed an "outperform" rating on shares of LifeStance Health Group in a research report on Friday, February 28th. Canaccord Genuity Group started coverage on shares of LifeStance Health Group in a research note on Thursday, April 3rd. They issued a "buy" rating and a $8.00 target price for the company. Finally, KeyCorp started coverage on shares of LifeStance Health Group in a research report on Tuesday, April 8th. They set an "overweight" rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, LifeStance Health Group has an average rating of "Moderate Buy" and a consensus price target of $8.30.

Insider Activity at LifeStance Health Group

In other news, insider Lisa K. Miller sold 18,845 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.90, for a total transaction of $130,030.50. Following the sale, the insider now directly owns 339,810 shares in the company, valued at $2,344,689. This trade represents a 5.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.60% of the company's stock.

LifeStance Health Group Stock Performance

NASDAQ LFST traded down $0.02 on Tuesday, hitting $6.61. 648,804 shares of the company's stock traded hands, compared to its average volume of 1,617,401. The firm has a market capitalization of $2.57 billion, a PE ratio of -25.40 and a beta of 1.30. LifeStance Health Group, Inc. has a 1-year low of $4.64 and a 1-year high of $8.61. The firm's 50-day moving average price is $6.86 and its two-hundred day moving average price is $7.29. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19.

LifeStance Health Group Company 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.