Cim Investment Management Inc. Trims Holdings in LifeStance Health Group, Inc. (NASDAQ:LFST)

Cim Investment Management Inc. trimmed its position in LifeStance Health Group, Inc. (NASDAQ:LFST) by 19.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,622 shares of the company’s stock after selling 3,086 shares during the quarter. Cim Investment Management Inc.’s holdings in LifeStance Health Group were worth $62,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc purchased a new stake in LifeStance Health Group in the 2nd quarter worth approximately $623,000. Charles Schwab Investment Management Inc. grew its holdings in LifeStance Health Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 744,617 shares of the company’s stock valued at $5,830,000 after buying an additional 5,112 shares in the last quarter. Swiss National Bank grew its holdings in LifeStance Health Group by 25.4% during the 1st quarter. Swiss National Bank now owns 186,800 shares of the company’s stock valued at $1,153,000 after buying an additional 37,800 shares in the last quarter. Assetmark Inc. grew its holdings in LifeStance Health Group by 21.6% during the 4th quarter. Assetmark Inc. now owns 11,895 shares of the company’s stock valued at $93,000 after buying an additional 2,114 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in LifeStance Health Group during the 2nd quarter valued at approximately $762,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Ann Varanakis sold 5,269 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.28, for a total value of $33,089.32. Following the completion of the sale, the insider now directly owns 263,007 shares in the company, valued at $1,651,683.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.60% of the stock is owned by corporate insiders.

LifeStance Health Group Stock Down 0.6 %

NASDAQ LFST opened at $6.94 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $2.65 billion, a P/E ratio of -14.46 and a beta of 1.22. LifeStance Health Group, Inc. has a one year low of $4.64 and a one year high of $9.20. The stock has a 50 day moving average price of $6.20 and a 200-day moving average price of $6.02.

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

LifeStance Health Group 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.