Wellington Management Group LLP Boosts Position in LifeStance Health Group, Inc. (NASDAQ:LFST)

Wellington Management Group LLP grew its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,830,441 shares of the company’s stock after buying an additional 638,385 shares during the period. Wellington Management Group LLP owned 1.26% of LifeStance Health Group worth $33,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased 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 period. Price T Rowe Associates Inc. MD boosted its holdings in shares of LifeStance Health Group by 12.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,366 shares of the company’s stock worth $262,000 after purchasing an additional 4,681 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in LifeStance Health Group by 31.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,105 shares of the company’s stock worth $169,000 after buying an additional 5,767 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of LifeStance Health Group by 22.9% in the 2nd quarter. Arizona State Retirement System now owns 31,972 shares of the company’s stock valued at $157,000 after purchasing an additional 5,959 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of LifeStance Health Group by 10.5% during the third quarter. The Manufacturers Life Insurance Company now owns 81,741 shares of the company’s stock valued at $572,000 after buying an additional 7,798 shares during the last quarter. 85.50% of the stock is owned by hedge funds and other institutional investors.

LifeStance Health Group Price Performance

LFST stock opened at $7.22 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $7.16 and a 200-day moving average price of $6.31. LifeStance Health Group, Inc. has a 52-week low of $4.64 and a 52-week high of $9.20. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -27.77 and a beta of 1.28.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $312.70 million for the quarter, compared to analysts’ expectations of $302.25 million. LifeStance Health Group had a negative net margin of 7.90% and a negative return on equity of 6.66%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Equities research analysts forecast that LifeStance Health Group, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LFST shares. Barclays boosted their price objective on LifeStance Health Group from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. UBS Group decreased their price objective on 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.50.

Insiders Place Their Bets

In related news, Director Robert Bessler sold 75,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 1,424,447 shares in the company, valued at approximately $10,740,330.38. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is owned by insiders.

LifeStance Health Group Company 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.