LifeStance Health Group (NASDAQ:LFST) Shares Gap Up on Strong Earnings

LifeStance Health Group, Inc. (NASDAQ:LFST) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $7.13, but opened at $7.75. LifeStance Health Group shares last traded at $8.04, with a volume of 2,194,460 shares traded.

The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. LifeStance Health Group had a negative return on equity of 10.51% and a negative net margin of 13.05%. The business had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. During the same period last year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year.

Analyst Ratings Changes

LFST has been the subject of a number of recent analyst reports. Barclays cut their target price on 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 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 research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, LifeStance Health Group currently has an average rating of “Hold” and a consensus target price of $8.25.

Insider Activity at LifeStance Health Group

In related news, insider Ann Varanakis sold 5,269 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $6.28, for a total transaction of $33,089.32. Following the completion of the transaction, the insider now directly owns 263,007 shares in the company, valued at $1,651,683.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LifeStance Health Group

Large investors have recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new position in shares of LifeStance Health Group in the second quarter valued at approximately $53,000. Bessemer Group Inc. boosted its position in LifeStance Health Group by 43.4% during the 1st quarter. Bessemer Group Inc. now owns 9,143 shares of the company’s stock worth $56,000 after buying an additional 2,768 shares during the period. Algert Global LLC bought a new stake in LifeStance Health Group during the 2nd quarter worth approximately $57,000. Victory Capital Management Inc. grew its holdings in LifeStance Health Group by 27.0% during the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock worth $71,000 after acquiring an additional 3,063 shares during the last quarter. Finally, Park Edge Advisors LLC bought a new position in shares of LifeStance Health Group during the third quarter valued at $73,000. 85.50% of the stock is currently owned by institutional investors.

LifeStance Health Group Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -17.95 and a beta of 1.24. The business’s fifty day moving average price is $6.92 and its 200 day moving average price is $6.21.

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.