KeyCorp Initiates Coverage on LifeStance Health Group (NASDAQ:LFST)

Analysts at KeyCorp assumed coverage on shares of LifeStance Health Group (NASDAQ:LFST) in a report issued on Tuesday. The brokerage set an “overweight” rating and a $9.00 price target on the stock. KeyCorp’s price objective would indicate a potential upside of 29.78% from the company’s current price.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, December 16th. Canaccord Genuity Group initiated coverage on LifeStance Health Group in a research report on Thursday, April 3rd. They issued a “buy” rating and a $8.00 target price for the company. Finally, William Blair reissued an “outperform” rating on shares of LifeStance Health Group in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.58.

LifeStance Health Group Price Performance

NASDAQ LFST traded up $0.43 during trading hours on Tuesday, hitting $6.94. The company had a trading volume of 90,626 shares, compared to its average volume of 1,572,217. The firm has a 50 day simple moving average of $7.44 and a 200 day simple moving average of $7.34. 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 market capitalization of $2.67 billion, a price-to-earnings ratio of -26.50 and a beta of 1.30. LifeStance Health Group has a 52 week low of $4.64 and a 52 week high of $8.61.

Insider Buying and Selling at LifeStance Health Group

In related news, insider Lisa K. Miller sold 18,845 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.90, for a total value of $130,030.50. Following the transaction, the insider now directly owns 339,810 shares of the company’s stock, valued at approximately $2,344,689. This trade represents a 5.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LFST. Summit Global Investments bought a new stake in shares of LifeStance Health Group during the 1st quarter valued at $241,000. Wellington Management Group LLP lifted its holdings in LifeStance Health Group by 9.2% in the 4th quarter. Wellington Management Group LLP now owns 5,276,237 shares of the company’s stock worth $38,886,000 after purchasing an additional 445,796 shares in the last quarter. Forum Financial Management LP purchased a new stake in LifeStance Health Group during the 4th quarter valued at approximately $110,000. Neo Ivy Capital Management grew its stake in LifeStance Health Group by 26,132.3% during the fourth quarter. Neo Ivy Capital Management now owns 182,052 shares of the company’s stock valued at $1,341,000 after acquiring an additional 181,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of LifeStance Health Group by 16.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 604,321 shares of the company’s stock valued at $4,454,000 after purchasing an additional 87,502 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors.

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.