Rhumbline Advisers Buys 27,280 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

Rhumbline Advisers increased its stake in LifeStance Health Group, Inc. (NASDAQ:LFST) by 17.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,131 shares of the company’s stock after purchasing an additional 27,280 shares during the period. Rhumbline Advisers’ holdings in LifeStance Health Group were worth $894,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc bought a new position in LifeStance Health Group in the 2nd quarter worth approximately $53,000. Bank of New York Mellon Corp raised its position in shares of LifeStance Health Group by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 451,102 shares of the company’s stock valued at $2,215,000 after acquiring an additional 15,309 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of LifeStance Health Group during the 1st quarter valued at $106,000. California State Teachers Retirement System raised its position in shares of LifeStance Health Group by 13.0% during the 1st quarter. California State Teachers Retirement System now owns 95,758 shares of the company’s stock valued at $591,000 after acquiring an additional 11,022 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of LifeStance Health Group during the 1st quarter valued at $238,000. Institutional investors own 85.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on LFST shares. Barclays dropped their target price on shares of LifeStance Health Group from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. UBS Group dropped their target price on shares of LifeStance Health Group from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.25.

LifeStance Health Group Price Performance

Shares of LFST stock opened at $6.89 on Tuesday. LifeStance Health Group, Inc. has a 12-month low of $4.64 and a 12-month high of $9.20. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -14.35 and a beta of 1.22. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $6.09 and a 200-day moving average of $6.01.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. LifeStance Health Group had a negative net margin of 13.05% and a negative return on equity of 10.51%. The company had revenue of $312.30 million during the quarter, compared to analyst estimates of $305.85 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The firm’s revenue was up 20.3% on a year-over-year basis. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ann Varanakis sold 5,269 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $6.28, for a total value of $33,089.32. Following the completion of the transaction, the insider now directly owns 263,007 shares of the company’s stock, valued at approximately $1,651,683.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.60% of the company’s stock.

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.