LifeStance Health Group, Inc. $LFST Stake Cut by Parcion Private Wealth LLC

Parcion Private Wealth LLC lessened its holdings in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,095,216 shares of the company’s stock after selling 259,150 shares during the quarter. LifeStance Health Group makes up 0.7% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 24th largest holding. Parcion Private Wealth LLC owned 0.54% of LifeStance Health Group worth $14,750,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Bayesian Capital Management LP purchased a new stake in shares of LifeStance Health Group in the second quarter worth approximately $52,000. Park Edge Advisors LLC increased its position in LifeStance Health Group by 14.4% during the fourth quarter. Park Edge Advisors LLC now owns 11,863 shares of the company’s stock worth $84,000 after buying an additional 1,495 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of LifeStance Health Group during the 3rd quarter valued at about $72,000. CIBC Bancorp USA Inc. bought a new position in shares of LifeStance Health Group in the third quarter valued at approximately $78,000. Finally, PharVision Advisers LLC bought a new position in LifeStance Health Group in the 3rd quarter worth $84,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LFST. Barclays lifted their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Canaccord Genuity Group lifted their target price on shares of LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. BTIG Research lifted their price objective on LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Weiss Ratings upgraded LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised LifeStance Health Group from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, LifeStance Health Group currently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Darren M. Black sold 4,314,939 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the transaction, the director owned 29,209,776 shares of the company’s stock, valued at approximately $204,760,529.76. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

LifeStance Health Group Price Performance

Shares of LFST stock opened at $6.55 on Thursday. LifeStance Health Group, Inc. has a 52 week low of $3.74 and a 52 week high of $8.09. The stock has a market capitalization of $2.55 billion, a PE ratio of 327.66 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 1.65. The stock’s fifty day moving average is $6.73 and its 200-day moving average is $6.48.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (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 last year, the company earned ($0.01) EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that LifeStance Health Group, Inc. will post -0.18 EPS for the current fiscal year.

LifeStance Health Group declared that its board has initiated a stock repurchase plan on Wednesday, February 25th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About LifeStance Health Group

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.