Handelsbanken Fonder AB Reduces Position in Life Time Group Holdings, Inc. (NYSE:LTH)

Handelsbanken Fonder AB decreased its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,700 shares of the company’s stock after selling 700 shares during the period. Handelsbanken Fonder AB’s holdings in Life Time Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dnca Finance grew its holdings in Life Time Group by 11.9% during the fourth quarter. Dnca Finance now owns 3,830 shares of the company’s stock valued at $85,000 after purchasing an additional 407 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Life Time Group by 12.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,478 shares of the company’s stock valued at $143,000 after buying an additional 712 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Life Time Group by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,915 shares of the company’s stock valued at $4,865,000 after acquiring an additional 788 shares during the period. Rhumbline Advisers increased its holdings in Life Time Group by 1.2% in the 4th quarter. Rhumbline Advisers now owns 91,572 shares of the company’s stock worth $2,026,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC raised its stake in Life Time Group by 10.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 13,151 shares of the company’s stock worth $291,000 after acquiring an additional 1,224 shares during the period. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LTH shares. BMO Capital Markets set a $28.00 price target on shares of Life Time Group and gave the stock a “hold” rating in a research report on Friday, March 14th. Bank of America set a $40.00 price target on Life Time Group and gave the stock a “buy” rating in a research note on Monday, March 3rd. Evercore ISI set a $38.00 price target on Life Time Group and gave the company a “buy” rating in a report on Thursday, February 27th. Craig Hallum raised Life Time Group to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group increased their target price on Life Time Group from $22.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.92.

Insider Transactions at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 18,000 shares of Life Time Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $28.74, for a total transaction of $517,320.00. Following the completion of the transaction, the chief financial officer now directly owns 86,611 shares of the company’s stock, valued at $2,489,200.14. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John G. Danhakl sold 11,655,582 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.38, for a total transaction of $342,440,999.16. Following the completion of the sale, the director now directly owns 29,898,037 shares in the company, valued at approximately $878,404,327.06. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,463,411 shares of company stock worth $689,265,632. 8.70% of the stock is currently owned by company insiders.

Life Time Group Price Performance

Life Time Group stock opened at $27.11 on Monday. Life Time Group Holdings, Inc. has a 52-week low of $17.81 and a 52-week high of $34.99. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $29.90 and its 200 day moving average is $28.44. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 0.81 and a beta of 1.75.

Life Time Group (NYSE:LTH) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The firm had revenue of $706.04 million during the quarter, compared to the consensus estimate of $684.06 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Sell-side analysts forecast that Life Time Group Holdings, Inc. will post 0.74 EPS for the current fiscal year.

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.