Magnetar Financial LLC Makes New $762,000 Investment in LifeStance Health Group, Inc. (NASDAQ:LFST)

Magnetar Financial LLC acquired a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 155,145 shares of the company’s stock, valued at approximately $762,000.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new stake in LifeStance Health Group during the 2nd quarter worth approximately $53,000. Bessemer Group Inc. lifted its holdings in shares of LifeStance Health Group by 43.4% in the 1st quarter. Bessemer Group Inc. now owns 9,143 shares of the company’s stock valued at $56,000 after buying an additional 2,768 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of LifeStance Health Group by 27.0% in the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock valued at $71,000 after buying an additional 3,063 shares during the period. Allen Investment Management LLC acquired a new stake in shares of LifeStance Health Group in the 1st quarter valued at approximately $79,000. Finally, Assetmark Inc. lifted its holdings in shares of LifeStance Health Group by 21.6% in the 4th quarter. Assetmark Inc. now owns 11,895 shares of the company’s stock valued at $93,000 after buying an additional 2,114 shares during the period. 85.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LifeStance Health Group

In other news, insider Ann Varanakis sold 5,269 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.28, for a total transaction of $33,089.32. Following the sale, the insider now owns 263,007 shares in the company, valued at $1,651,683.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

LFST has been the subject of several recent analyst reports. UBS Group reduced their price target 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. Barclays dropped their price objective on LifeStance Health Group from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.25.

LifeStance Health Group Price Performance

LFST stock opened at $6.94 on Wednesday. LifeStance Health Group, Inc. has a 52-week low of $4.64 and a 52-week high of $9.20. The stock’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $6.01. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -14.46 and a beta of 1.22.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. 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 $312.30 million for the quarter, compared to analysts’ expectations of $305.85 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. Equities research analysts expect that LifeStance Health Group, Inc. will post -0.24 EPS for the current 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.