LifeStance Health Group, Inc. (NASDAQ:LFST) Sees Significant Drop in Short Interest

LifeStance Health Group, Inc. (NASDAQ:LFST) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 9,860,000 shares, a decline of 10.1% from the December 15th total of 10,970,000 shares. Currently, 8.9% of the shares of the stock are short sold. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is presently 6.8 days.

Insiders Place Their Bets

In other news, Director Robert Bessler sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $7.54, for a total transaction of $565,500.00. Following the transaction, the director now owns 1,424,447 shares of the company’s stock, valued at approximately $10,740,330.38. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of LifeStance Health Group by 17.6% in the second quarter. Rhumbline Advisers now owns 182,131 shares of the company’s stock valued at $894,000 after purchasing an additional 27,280 shares during the period. Victory Capital Management Inc. increased its holdings in LifeStance Health Group by 27.0% in the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock worth $71,000 after buying an additional 3,063 shares during the period. Arizona State Retirement System raised its position in LifeStance Health Group by 22.9% during the 2nd quarter. Arizona State Retirement System now owns 31,972 shares of the company’s stock worth $157,000 after buying an additional 5,959 shares during the last quarter. Choreo LLC acquired a new stake in LifeStance Health Group during the 2nd quarter valued at approximately $134,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of LifeStance Health Group by 82.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,452 shares of the company’s stock valued at $4,991,000 after acquiring an additional 457,930 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays upped their target price on LifeStance Health Group from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group upgraded shares of LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.70.

LifeStance Health Group Stock Up 0.1 %

Shares of LFST traded up $0.01 during trading hours on Friday, hitting $7.99. The company had a trading volume of 1,158,246 shares, compared to its average volume of 1,078,520. The company has a market capitalization of $3.06 billion, a PE ratio of -30.73 and a beta of 1.26. The company’s fifty day moving average price is $7.44 and its two-hundred day moving average price is $6.72. LifeStance Health Group has a one year low of $4.64 and a one year high of $9.20. 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 (NASDAQ:LFST) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. LifeStance Health Group had a negative return on equity of 6.66% and a negative net margin of 7.90%. The firm had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. During the same quarter last year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities analysts forecast that LifeStance Health Group will post -0.2 earnings per share for the current fiscal year.

About LifeStance Health Group

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.