Mirae Asset Global Investments Co. Ltd. Cuts Stake in Life Time Group Holdings, Inc. (NYSE:LTH)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,015 shares of the company’s stock after selling 2,538 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Life Time Group were worth $528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LTH. Vanguard Group Inc. increased its holdings in shares of Life Time Group by 1.0% during the third quarter. Vanguard Group Inc. now owns 4,736,200 shares of the company’s stock valued at $72,038,000 after acquiring an additional 48,885 shares in the last quarter. Graham Capital Management L.P. grew its position in Life Time Group by 85.0% during the 3rd quarter. Graham Capital Management L.P. now owns 67,673 shares of the company’s stock worth $1,029,000 after purchasing an additional 31,087 shares during the last quarter. GSA Capital Partners LLP increased its stake in Life Time Group by 117.2% during the 3rd quarter. GSA Capital Partners LLP now owns 49,221 shares of the company’s stock valued at $749,000 after purchasing an additional 26,560 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Life Time Group in the third quarter worth $774,000. Finally, Algert Global LLC lifted its stake in shares of Life Time Group by 95.0% during the third quarter. Algert Global LLC now owns 103,283 shares of the company’s stock worth $1,571,000 after buying an additional 50,312 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Wall Street Analyst Weigh In

LTH has been the subject of a number of research analyst reports. Northland Securities started coverage on Life Time Group in a research note on Tuesday. They issued an “outperform” rating and a $23.00 target price for the company. Mizuho reduced their price objective on Life Time Group from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Royal Bank of Canada lifted their target price on Life Time Group from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, TheStreet upgraded shares of Life Time Group from a “d+” rating to a “c-” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.88.

Life Time Group Stock Performance

NYSE LTH opened at $14.10 on Friday. Life Time Group Holdings, Inc. has a fifty-two week low of $11.10 and a fifty-two week high of $22.41. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a market capitalization of $2.77 billion, a P/E ratio of 37.11 and a beta of 1.74. The stock has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $14.18.

Life Time Group (NYSE:LTH) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. Life Time Group had a return on equity of 4.17% and a net margin of 3.43%. The company had revenue of $558.80 million during the quarter, compared to analysts’ expectations of $555.51 million. During the same period last year, the business earned $0.07 earnings per share. Life Time Group’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current year.

Insider Activity at Life Time Group

In related news, EVP Ritadhwaja Jebens Singh sold 10,828 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.61, for a total transaction of $147,369.08. Following the sale, the executive vice president now owns 201,521 shares in the company, valued at $2,742,700.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Erik Weaver sold 5,269 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.77, for a total value of $67,285.13. Following the completion of the sale, the chief financial officer now directly owns 86,967 shares in the company, valued at $1,110,568.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ritadhwaja Jebens Singh sold 10,828 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.61, for a total value of $147,369.08. Following the transaction, the executive vice president now directly owns 201,521 shares of the company’s stock, valued at $2,742,700.81. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.

About Life Time Group

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.