Key Points
- Major shareholder sale: Partners Group Private Equity sold 329,921 Life Time Group shares on June 4 at an average price of $28.60, for proceeds of about $9.4 million. Its stake fell by 16.65% to 1,651,322 shares.
- Recent insider selling has been ongoing: The same shareholder also sold large blocks on May 5, May 7, and May 21, totaling millions of dollars in additional sales.
- Business and stock context: Life Time Group recently beat quarterly EPS and revenue estimates, and analysts remain mostly positive with a “Moderate Buy” rating and an average target price of $40.30, even as the shares were down slightly on the day.
Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) major shareholder Partners Group Private Equity sold 329,921 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $28.60, for a total value of $9,435,740.60. Following the transaction, the insider directly owned 1,651,322 shares of the company's stock, valued at approximately $47,227,809.20. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares 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 21st, Partners Group Private Equity sold 449,960 shares of Life Time Group stock. The stock was sold at an average price of $32.51, for a total value of $14,628,199.60.
- 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 Stock Down 0.7%
Shares of NYSE LTH opened at $32.34 on Friday. The stock has a market cap of $7.20 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.36 and a beta of 1.55. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. Life Time Group Holdings, Inc. has a 52-week low of $24.14 and a 52-week high of $35.33. The business has a 50-day moving average price of $29.86 and a 200 day moving average price of $28.16.
Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $788.70 million during the quarter, compared to analysts' expectations of $787.65 million. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The business's revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. Equities research analysts forecast that Life Time Group Holdings, Inc. will post 1.47 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on LTH shares. Royal Bank Of Canada upped their target price on Life Time Group from $38.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley upped their target price on Life Time Group from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Mizuho upped their target price on Life Time Group from $41.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. KeyCorp started coverage on Life Time Group in a research report on Thursday, March 12th. They issued an "overweight" rating and a $40.00 target price for the company. Finally, UBS Group reissued a "buy" rating and issued a $43.00 target price on shares of Life Time Group in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Life Time Group currently has an average rating of "Moderate Buy" and an average target price of $40.30.
Read Our Latest Stock Analysis on Life Time Group
Institutional Trading of Life Time Group
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Life Time Group by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,500,274 shares of the company's stock worth $372,608,000 after acquiring an additional 374,833 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Life Time Group during the 3rd quarter worth approximately $8,280,000. ABN Amro Investment Solutions acquired a new stake in Life Time Group during the 3rd quarter worth approximately $2,535,000. Quantbot Technologies LP acquired a new stake in Life Time Group during the 3rd quarter worth approximately $3,472,000. Finally, TD Asset Management Inc lifted its position in Life Time Group by 158.1% during the 3rd quarter. TD Asset Management Inc now owns 76,436 shares of the company's stock worth $2,110,000 after acquiring an additional 46,822 shares during the period. 79.40% of the stock is owned by institutional investors and hedge funds.
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.
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