Life Time Group (NYSE:LTH) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Life Time Group (NYSE:LTH) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

LTH has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Life Time Group in a research report on Thursday, January 22nd. UBS Group set a $48.00 price target on Life Time Group in a report on Friday, October 17th. Guggenheim reiterated a “buy” rating and issued a $36.00 price objective on shares of Life Time Group in a research report on Friday, January 23rd. Northland Securities set a $42.00 price objective on Life Time Group in a report on Friday, January 23rd. Finally, Morgan Stanley reduced their target price on shares of Life Time Group from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.77.

Life Time Group Stock Down 1.2%

Shares of NYSE:LTH opened at $28.95 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.50. The firm has a market cap of $6.38 billion, a P/E ratio of 22.44, a P/E/G ratio of 0.87 and a beta of 1.68. Life Time Group has a 12 month low of $24.14 and a 12 month high of $34.99. The company’s 50-day moving average price is $27.04 and its two-hundred day moving average price is $27.24.

Life Time Group (NYSE:LTH) last announced its earnings results on Tuesday, November 4th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Life Time Group had a net margin of 9.91% and a return on equity of 9.75%. The company had revenue of $782.65 million during the quarter, compared to the consensus estimate of $770.93 million. As a group, research analysts forecast that Life Time Group will post 0.74 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $29.75, for a total transaction of $359,618.00. Following the completion of the transaction, the executive vice president owned 110,967 shares in the company, valued at approximately $3,301,268.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric J. Buss sold 162,722 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $28.04, for a total transaction of $4,562,724.88. Following the completion of the sale, the executive vice president directly owned 380,683 shares of the company’s stock, valued at $10,674,351.32. The trade was a 29.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 249,297 shares of company stock valued at $7,011,703 over the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in Life Time Group by 2,398.6% during the third quarter. Voya Investment Management LLC now owns 1,065,997 shares of the company’s stock worth $29,422,000 after purchasing an additional 1,023,333 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Life Time Group during the 2nd quarter worth about $43,473,000. Divisadero Street Capital Management LP acquired a new position in shares of Life Time Group during the 2nd quarter worth about $5,381,000. Norges Bank bought a new position in shares of Life Time Group in the 2nd quarter valued at about $50,999,000. Finally, Lingotto Investment Management LLP acquired a new stake in shares of Life Time Group in the second quarter valued at about $4,437,000. 79.40% of the stock is owned by institutional investors.

Life Time Group Company Profile

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.