LPL Financial LLC Acquires New Position in Life Time Group Holdings, Inc. $LTH

LPL Financial LLC acquired a new stake in Life Time Group Holdings, Inc. (NYSE:LTH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 79,953 shares of the company’s stock, valued at approximately $2,329,000.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Life Time Group by 41.5% in the first quarter. Bank of New York Mellon Corp now owns 311,226 shares of the company’s stock worth $9,399,000 after acquiring an additional 91,311 shares during the period. Stifel Financial Corp acquired a new position in shares of Life Time Group in the 4th quarter valued at $714,000. Two Sigma Investments LP grew its holdings in shares of Life Time Group by 107.7% during the 4th quarter. Two Sigma Investments LP now owns 103,826 shares of the company’s stock worth $2,297,000 after purchasing an additional 53,830 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Life Time Group during the 4th quarter worth about $209,000. Finally, Arizona State Retirement System raised its holdings in Life Time Group by 33.6% in the 1st quarter. Arizona State Retirement System now owns 27,832 shares of the company’s stock valued at $841,000 after buying an additional 7,004 shares during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $36.00 target price on shares of Life Time Group in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Life Time Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Craig Hallum raised Life Time Group to a “buy” rating and set a $45.00 target price on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley raised their price target on Life Time Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.92.

Insider Activity at Life Time Group

In other news, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was 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 owned 133,189 shares of the company’s stock, valued at $3,835,843.20. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Erik Weaver sold 18,000 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $28.74, for a total transaction of $517,320.00. Following the transaction, the chief financial officer directly owned 86,611 shares in the company, valued at approximately $2,489,200.14. The trade was a 17.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,548,155 shares of company stock valued at $691,624,905 over the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Life Time Group Stock Performance

NYSE:LTH opened at $28.23 on Tuesday. Life Time Group Holdings, Inc. has a 1-year low of $21.49 and a 1-year high of $34.99. The firm has a 50 day simple moving average of $28.68 and a 200-day simple moving average of $29.80. The firm has a market cap of $6.21 billion, a PE ratio of 27.68 and a beta of 1.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.53.

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

Life Time Group Company 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.