LifeStance Health Group (NASDAQ:LFST) Director Sells $438,136.35 in Stock

Key Points

• Director sale: Robert Bessler sold 62,147 shares on April 24 at an average of $7.05 for $438,136.35, reducing his ownership by 4.65% to 1,274,448 shares, according to an SEC filing.
• Board buyback and analyst sentiment: The company authorized a $100 million share buyback (about 3.6% of shares) and has seen multiple analyst upgrades, with a consensus price target of $9.83.
• Trading reaction: LFST rose about 3.1% to $7.27 on heavy volume (3.94M shares), trading inside a 52-week range of $3.74–$8.09 and with a market cap near $2.82 billion.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) Director Robert Bessler sold 62,147 shares of LifeStance Health Group stock in a transaction on Friday, April 24th. The stock was sold at an average price of $7.05, for a total transaction of $438,136.35. Following the sale, the director directly owned 1,274,448 shares of the company's stock, valued at approximately $8,984,858.40. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robert Bessler also recently made the following trade(s):

• On Thursday, April 23rd, Robert Bessler sold 7,752 shares of LifeStance Health Group stock. The stock was sold at an average price of $7.00, for a total transaction of $54,264.00.
• On Tuesday, April 21st, Robert Bessler sold 5,101 shares of LifeStance Health Group stock. The stock was sold at an average price of $7.01, for a total transaction of $35,758.01.

LifeStance Health Group Stock Up 3.1%

NASDAQ:LFST traded up $0.22 during midday trading on Monday, hitting $7.27. 3,942,208 shares of the company were exchanged, compared to its average volume of 2,098,770. The company has a fifty day simple moving average of $6.73 and a 200 day simple moving average of $6.56. LifeStance Health Group, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $8.09. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.82 billion, a PE ratio of 363.68 and a beta of 1.13.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a return on equity of 0.65% and a net margin of 0.68%.The company had revenue of $382.20 million for the quarter, compared to analyst estimates of $378.51 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. LifeStance Health Group's revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts anticipate that LifeStance Health Group, Inc. will post 0.09 earnings per share for the current fiscal year.

LifeStance Health Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company's stock valued at $27,000 after purchasing an additional 3,791 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in LifeStance Health Group in the 2nd quarter valued at approximately $52,000. Krane Funds Advisors LLC purchased a new stake in LifeStance Health Group in the 4th quarter valued at approximately $71,000. Vanguard Personalized Indexing Management LLC purchased a new stake in LifeStance Health Group in the 3rd quarter valued at approximately $72,000. Finally, Cibc World Markets Corp purchased a new stake in LifeStance Health Group in the 4th quarter valued at approximately $77,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LFST has been the topic of several research analyst reports. BTIG Research lifted their price target on shares of LifeStance Health Group from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. KeyCorp lifted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of LifeStance Health Group from a "hold" rating to a "buy" rating in a research note on Sunday, February 8th. UBS Group lifted their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Finally, Jefferies Financial Group upgraded shares of LifeStance Health Group to a "strong-buy" rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.83.

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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