Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) CFO Erik Weaver sold 47,748 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $44.80, for a total value of $2,139,110.40. Following the sale, the chief financial officer owned 88,918 shares of the company's stock, valued at $3,983,526.40. This represents a 34.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Erik Weaver also recently made the following trade(s):
- On Thursday, May 7th, Erik Weaver sold 22,000 shares of Life Time Group stock. The stock was sold at an average price of $32.69, for a total value of $719,180.00.
Life Time Group Stock Performance
NYSE LTH opened at $44.86 on Wednesday. The firm has a market capitalization of $10.02 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.66 and a beta of 1.50. Life Time Group Holdings, Inc. has a 1-year low of $24.14 and a 1-year high of $47.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.66 and a quick ratio of 0.56. The business's 50-day simple moving average is $38.93 and its 200-day simple moving average is $32.18.
Life Time Group (NYSE:LTH - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The firm had revenue of $866.00 million during the quarter, compared to the consensus estimate of $845.75 million. During the same quarter in the prior year, the company earned $0.37 EPS. The company's revenue was up 13.7% on a year-over-year basis. Equities analysts predict that Life Time Group Holdings, Inc. will post 1.53 EPS for the current year.
Key Headlines Impacting Life Time Group
Here are the key news stories impacting Life Time Group this week:
- Positive Sentiment: Management raised its earnings outlook following the second-quarter earnings call, citing rapid growth. The company’s latest quarter also exceeded expectations, with earnings of $0.48 per share versus the $0.37 consensus estimate and revenue growth of 13.7% year over year. Life Time Group Lifts Earnings Outlook Amid Rapid Growth
- Positive Sentiment: Several analysts raised their price targets for LTH to $64, $52 and $51, indicating continued confidence in the premium health-club operator’s growth prospects and suggesting upside from recent trading levels. Life Time Group Price Target Raised to $64 Life Time Group Price Target Raised to $52 Life Time Group Price Target Raised to $51
- Positive Sentiment: Life Time is being highlighted as a beneficiary of the broader wellness boom, as consumers continue to spend on premium fitness clubs and health-related services. Best Health and Fitness Stocks for Investors Amid Wellness Boom
- Negative Sentiment: Multiple senior executives disclosed sizable insider sales completed July 31. CEO Bahram Akradi sold about $19.7 million of shares, EVP Eric Buss sold $21.6 million, EVP Parham Javaheri sold $2.8 million and CFO Erik Weaver sold $2.1 million. The transactions reduced their holdings by roughly 11% to 50% and could weigh on investor sentiment, although all retained shares. SEC insider trading filing
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Life Time Group from $43.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday. Weiss Ratings raised shares of Life Time Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft set a $54.00 price target on Life Time Group in a report on Friday. KeyCorp raised their price objective on Life Time Group from $40.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Morgan Stanley boosted their price objective on Life Time Group from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $53.77.
Read Our Latest Stock Analysis on LTH
Institutional Trading of Life Time Group
A number of hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans acquired a new stake in Life Time Group during the 4th quarter valued at $41,721,000. Decker Retirement Planning Inc. acquired a new position in Life Time Group in the 4th quarter worth $3,811,000. Vanguard Group Inc. lifted its holdings in Life Time Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company's stock worth $362,651,000 after buying an additional 143,487 shares in the last quarter. Norges Bank purchased a new position in Life Time Group in the 4th quarter valued at about $49,228,000. Finally, Geode Capital Management LLC grew its stake in shares of Life Time Group by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 3,519,811 shares of the company's stock valued at $93,572,000 after acquiring an additional 207,822 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company's stock.
Life Time Group Company Profile
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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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