The Manufacturers Life Insurance Company bought a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 90,209 shares of the company’s stock, valued at approximately $966,000.
A number of other large investors have also recently made changes to their positions in LFST. Silversmith Partners I GP LLC purchased a new stake in LifeStance Health Group in the fourth quarter valued at approximately $100,842,000. First Eagle Investment Management LLC grew its position in shares of LifeStance Health Group by 13.3% during the fourth quarter. First Eagle Investment Management LLC now owns 1,496,466 shares of the company’s stock worth $10,535,000 after acquiring an additional 176,000 shares during the last quarter. Moran Wealth Management LLC purchased a new position in shares of LifeStance Health Group during the first quarter worth approximately $953,000. Orbimed Advisors LLC acquired a new position in shares of LifeStance Health Group in the 1st quarter valued at $3,185,000. Finally, Renaissance Technologies LLC increased its holdings in shares of LifeStance Health Group by 92.5% in the 1st quarter. Renaissance Technologies LLC now owns 800,500 shares of the company’s stock valued at $5,099,000 after acquiring an additional 384,600 shares during the period. 85.50% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of LifeStance Health Group stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.62, for a total value of $144,890,858.34. Following the sale, the insider owned 98,101,407 shares of the company’s stock, valued at $1,041,836,942.34. The trade was a 12.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the transaction, the director owned 539,763 shares in the company, valued at approximately $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,671,917 shares of company stock worth $155,493,415 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Report on LFST
LifeStance Health Group Trading Down 0.8%
NASDAQ:LFST opened at $12.73 on Friday. LifeStance Health Group, Inc. has a 12-month low of $4.77 and a 12-month high of $13.15. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $11.49 and its 200-day simple moving average is $8.80. The firm has a market cap of $4.94 billion, a P/E ratio of 97.93 and a beta of 1.22.
LifeStance Health Group (NASDAQ:LFST – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The firm had revenue of $435.35 million during the quarter, compared to the consensus estimate of $414.58 million. During the same period last year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. Equities analysts anticipate that LifeStance Health Group, Inc. will post 0.16 EPS for the current year.
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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