Comerica Bank raised its position in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 64.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,506 shares of the company's stock after purchasing an additional 85,764 shares during the quarter. Comerica Bank owned 0.11% of Life Time Group worth $4,833,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Life Time Group during the fourth quarter worth $33,000. R Squared Ltd purchased a new stake in shares of Life Time Group during the fourth quarter worth $42,000. Sterling Capital Management LLC increased its position in shares of Life Time Group by 892.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,025 shares of the company's stock worth $45,000 after acquiring an additional 1,821 shares during the period. Quarry LP increased its position in shares of Life Time Group by 240.4% during the fourth quarter. Quarry LP now owns 2,335 shares of the company's stock worth $52,000 after acquiring an additional 1,649 shares during the period. Finally, Dnca Finance increased its position in shares of Life Time Group by 11.9% during the fourth quarter. Dnca Finance now owns 3,830 shares of the company's stock worth $85,000 after acquiring an additional 407 shares during the period. Hedge funds and other institutional investors own 79.40% of the company's stock.
Insider Buying and Selling at Life Time Group
In other Life Time Group news, CEO Bahram Akradi sold 5,000,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $30.13, for a total value of $150,650,000.00. Following the completion of the transaction, the chief executive officer now owns 2,993,849 shares in the company, valued at $90,204,670.37. This represents a 62.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have recently weighed in on LTH. Oppenheimer upped their price objective on Life Time Group from $33.00 to $43.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their price objective 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. Evercore ISI set a $38.00 price objective on Life Time Group and gave the stock a "buy" rating in a research report on Thursday, February 27th. Guggenheim boosted their target price on shares of Life Time Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Bank of America set a $40.00 target price on shares of Life Time Group and gave the stock a "buy" rating in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.92.
Check Out Our Latest Analysis on Life Time Group
Life Time Group Stock Performance
NYSE LTH traded down $2.12 during trading hours on Friday, hitting $28.64. The company had a trading volume of 3,213,711 shares, compared to its average volume of 1,652,860. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. Life Time Group Holdings, Inc. has a 1-year low of $14.56 and a 1-year high of $34.99. The company has a market cap of $6.13 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.86. The business has a 50 day moving average of $30.48 and a 200-day moving average of $27.57.
Life Time Group (NYSE:LTH - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $706.04 million during the quarter, compared to the consensus estimate of $684.06 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Life Time Group's revenue for the quarter was up 18.3% on a year-over-year basis. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 0.74 EPS for the current year.
Life Time Group Profile
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Free Report)
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.
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