PNC Financial Services Group Inc. Buys Shares of 7,628 Life Time Group Holdings, Inc. $LTH

PNC Financial Services Group Inc. bought a new stake in Life Time Group Holdings, Inc. (NYSE:LTH) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,628 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds have also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in shares of Life Time Group by 12.3% in the fourth 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 during the period. Amalgamated Bank raised its stake in shares of Life Time Group by 42.3% in the first quarter. Amalgamated Bank now owns 2,898 shares of the company’s stock valued at $88,000 after buying an additional 862 shares during the period. Harbour Investments Inc. bought a new stake in shares of Life Time Group in the first quarter valued at $36,000. Sherbrooke Park Advisers LLC raised its stake in shares of Life Time Group by 10.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 13,151 shares of the company’s stock valued at $291,000 after purchasing an additional 1,224 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Life Time Group by 12.4% during the 1st quarter. SG Americas Securities LLC now owns 11,485 shares of the company’s stock valued at $347,000 after purchasing an additional 1,269 shares during the period. 79.40% of the stock is currently owned by institutional investors.

Insider Transactions at Life Time Group

In other news, EVP Parham Javaheri sold 84,744 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $27.84, for a total value of $2,359,272.96. Following the completion of the transaction, the executive vice president directly owned 249,526 shares in the company, valued at approximately $6,946,803.84. This represents a 25.35% decrease in their position. 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 134,247 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $28.80, for a total value of $3,866,313.60. Following the completion of the sale, the executive vice president directly owned 133,189 shares of the company’s stock, valued at approximately $3,835,843.20. This trade represents a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,548,155 shares of company stock worth $691,624,905. Company insiders own 8.70% of the company’s stock.

Life Time Group Price Performance

Life Time Group stock opened at $28.36 on Monday. Life Time Group Holdings, Inc. has a 52 week low of $21.49 and a 52 week high of $34.99. The business has a 50-day simple moving average of $28.68 and a 200 day simple moving average of $29.80. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 27.80 and a beta of 1.73.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. Life Time Group had a return on equity of 9.05% and a net margin of 8.03%. The firm had revenue of $761.47 million during the quarter, compared to analysts’ expectations of $752.33 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts forecast that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on LTH shares. Wall Street Zen lowered Life Time Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Craig Hallum upgraded Life Time Group to a “buy” rating and set a $45.00 price objective on the stock in a research note on Friday, May 23rd. Guggenheim reiterated a “buy” rating and set a $36.00 price objective on shares of Life Time Group in a research note on Tuesday, June 24th. Finally, Morgan Stanley boosted their price objective on Life Time Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.92.

Life Time Group Profile

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.