Forum Financial Management LP Makes New Investment in Life Time Group Holdings, Inc. (NYSE:LTH)

Forum Financial Management LP purchased a new stake in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,576 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds have also modified their holdings of LTH. Charles Schwab Investment Management Inc. grew its stake in Life Time Group by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,371 shares of the company's stock valued at $13,324,000 after purchasing an additional 15,530 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Life Time Group in the fourth quarter worth approximately $307,000. Amundi increased its holdings in shares of Life Time Group by 76.5% in the fourth quarter. Amundi now owns 5,046 shares of the company's stock valued at $119,000 after buying an additional 2,187 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Life Time Group by 21.2% during the fourth quarter. Swiss National Bank now owns 141,200 shares of the company's stock valued at $3,123,000 after purchasing an additional 24,700 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Life Time Group by 4.7% in the 4th quarter. Natixis Advisors LLC now owns 35,974 shares of the company's stock valued at $796,000 after acquiring an additional 1,631 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LTH has been the subject of several analyst reports. Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 target price for the company in a report on Friday, May 23rd. Morgan Stanley boosted their price objective on shares of Life Time Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Guggenheim reiterated a "buy" rating and issued a $36.00 target price on shares of Life Time Group in a research note on Tuesday, June 24th. Five equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $35.92.

Insider Transactions at Life Time Group

In related news, Director John G. Danhakl sold 11,655,582 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was 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 directly owned 29,898,037 shares of the company's stock, valued at approximately $878,404,327.06. This trade represents a 28.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Parham Javaheri sold 84,744 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $27.84, for a total transaction of $2,359,272.96. Following the completion of the transaction, the executive vice president owned 249,526 shares in the company, valued at approximately $6,946,803.84. This represents a 25.35% 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 in the last three months. 8.70% of the stock is currently owned by corporate insiders.

Life Time Group Price Performance

Life Time Group stock traded down $0.19 during midday trading on Wednesday, reaching $28.76. 760,277 shares of the stock traded hands, compared to its average volume of 2,067,751. The stock has a market cap of $6.31 billion, a P/E ratio of 29.96 and a beta of 1.74. Life Time Group Holdings, Inc. has a 12 month low of $20.22 and a 12 month high of $34.99. The stock's fifty day moving average is $29.05 and its 200-day moving average is $29.54. The company has a quick ratio of 0.31, a current ratio of 0.43 and a debt-to-equity ratio of 0.55.

Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.12. The company had revenue of $706.04 million during the quarter, compared to the consensus estimate of $684.06 million. Life Time Group had a net margin of 7.60% and a return on equity of 8.29%. Life Time Group's revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. As a group, equities research analysts anticipate that Life Time Group Holdings, Inc. will post 0.74 EPS for the current 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.