Key Points
- CFO Erik Weaver sold 5,787 Life Time Group shares at an average price of $39.77, generating $230,148.99. The Rule 10b5-1 sale was intended to cover tax withholding tied to vested equity awards, leaving him with 83,131 shares.
- Life Time Group recently reported strong quarterly results, with earnings of $0.48 per share and revenue of $866 million, exceeding analyst estimates; revenue rose 13.7% year over year.
- Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $55.31, compared with a recent share price near $40.17.
Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) CFO Erik Weaver sold 5,787 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $39.77, for a total value of $230,148.99. Following the transaction, the chief financial officer owned 83,131 shares in the company, valued at approximately $3,306,119.87. This trade represents a 6.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Erik Weaver also recently made the following trade(s):
- On Friday, July 31st, Erik Weaver sold 47,748 shares of Life Time Group stock. The stock was sold at an average price of $44.80, for a total value of $2,139,110.40.
Life Time Group Stock Performance
NYSE:LTH opened at $40.17 on Thursday. The stock has a 50 day simple moving average of $42.12 and a 200 day simple moving average of $37.36. The stock has a market cap of $8.98 billion, a P/E ratio of 27.16, a PEG ratio of 1.43 and a beta of 1.49. 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 current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44.
Life Time Group (NYSE:LTH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%. The firm had revenue of $866.00 million for the quarter, compared to analyst estimates of $845.75 million. During the same period in the prior year, the firm posted $0.37 EPS. The company's revenue for the quarter was up 13.7% on a year-over-year basis. Research analysts anticipate that Life Time Group Holdings, Inc. will post 1.59 earnings per share for the current year.
Institutional Trading of Life Time Group
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Life Time Group by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company's stock worth $217,929,000 after purchasing an additional 1,068,208 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Life Time Group by 38.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,745,768 shares of the company's stock worth $47,031,000 after purchasing an additional 487,478 shares during the period. Ranger Investment Management L.P. acquired a new position in Life Time Group in the second quarter valued at about $16,302,000. Principal Financial Group Inc. raised its stake in Life Time Group by 18.1% in the first quarter. Principal Financial Group Inc. now owns 2,589,462 shares of the company's stock valued at $69,760,000 after purchasing an additional 397,248 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Life Time Group by 79.0% in the first quarter. Bank of New York Mellon Corp now owns 862,524 shares of the company's stock valued at $23,236,000 after purchasing an additional 380,610 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LTH. Oppenheimer boosted their target price on shares of Life Time Group from $43.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Royal Bank Of Canada upped their price target on shares of Life Time Group from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wells Fargo & Company raised their price target on shares of Life Time Group from $46.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. The Goldman Sachs Group started coverage on shares of Life Time Group in a research note on Monday, August 3rd. They issued a "buy" rating and a $53.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of Life Time Group from $40.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to data from MarketBeat.com, Life Time Group has a consensus rating of "Buy" and a consensus price target of $55.31.
Read Our Latest Stock Report on LTH
About Life Time Group
(
Get Free Report)
Life Time Group Holdings, Inc operates a network of athletic country clubs and wellness centers under the Life Time brand. Its facilities offer fitness equipment and training, group exercise classes, indoor and outdoor pools, sports courts, childcare, spas, salons, cafés and other services designed to support health, wellness and an active lifestyle.
The company also provides personal training, performance programs, nutrition services and organized athletic activities, including events and leagues for sports such as pickleball and tennis.
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