Key Points
- Major shareholder Partners Group Private Equity sold 449,960 shares of Life Time Group on May 21 at an average price of $32.51, totaling about $14.6 million. The sale reduced its stake by 18.51%.
- This was part of a larger selling trend by the same insider, which also sold 747,178 shares on May 7 and 542,119 shares on May 5.
- Life Time Group recently reported solid quarterly results, with EPS of $0.42 topping estimates and revenue rising 11.7% year over year to $788.7 million. Analysts remain generally positive, with a consensus rating of Buy and an average price target of $40.
Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) major shareholder Partners Group Private Equity sold 449,960 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $32.51, for a total transaction of $14,628,199.60. Following the transaction, the insider directly owned 1,981,243 shares in the company, valued at approximately $64,410,209.93. This represents a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Partners Group Private Equity also recently made the following trade(s):
- On Thursday, May 7th, Partners Group Private Equity sold 747,178 shares of Life Time Group stock. The stock was sold at an average price of $31.46, for a total value of $23,506,219.88.
- On Tuesday, May 5th, Partners Group Private Equity sold 542,119 shares of Life Time Group stock. The stock was sold at an average price of $28.60, for a total value of $15,504,603.40.
Life Time Group Price Performance
LTH opened at $33.24 on Wednesday. The stock's 50 day simple moving average is $28.84 and its 200 day simple moving average is $27.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $35.33. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.34 and a beta of 1.50.
Life Time Group (NYSE:LTH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The business had revenue of $788.70 million for the quarter, compared to analyst estimates of $787.65 million. During the same period last year, the company earned $0.39 EPS. Life Time Group's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts predict that Life Time Group Holdings, Inc. will post 1.47 earnings per share for the current year.
Institutional Investors Weigh In On Life Time Group
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Life Time Group by 2.9% during the third quarter. Vanguard Group Inc. now owns 13,500,274 shares of the company's stock valued at $372,608,000 after purchasing an additional 374,833 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Life Time Group during the third quarter valued at approximately $8,280,000. ABN Amro Investment Solutions bought a new stake in shares of Life Time Group during the third quarter valued at approximately $2,535,000. Quantbot Technologies LP bought a new stake in shares of Life Time Group during the third quarter valued at approximately $3,472,000. Finally, TD Asset Management Inc boosted its position in shares of Life Time Group by 158.1% during the third quarter. TD Asset Management Inc now owns 76,436 shares of the company's stock valued at $2,110,000 after purchasing an additional 46,822 shares in the last quarter. Institutional investors own 79.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on LTH. Jefferies Financial Group reissued a "buy" rating and issued a $41.00 price target on shares of Life Time Group in a report on Tuesday, May 5th. The Goldman Sachs Group reissued a "neutral" rating and issued a $37.00 price target on shares of Life Time Group in a report on Wednesday, May 6th. Morgan Stanley raised their price target on shares of Life Time Group from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Wells Fargo & Company raised their price target on shares of Life Time Group from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, UBS Group reiterated a "buy" rating and issued a $43.00 price objective on shares of Life Time Group in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $40.00.
View Our Latest Analysis on LTH
About Life Time Group
(
Get Free Report)
Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company's core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.
Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
