Informed Momentum Co LLC Invests $4.65 Million in Life Time Group Holdings, Inc. (NYSE:LTH)

Key Points

• Informed Momentum Co LLC has purchased 153,985 shares of Life Time Group Holdings, Inc. (NYSE:LTH), valued at approximately $4.65 million, making it the firm's 18th largest investment.
• Several large investors have recently increased their positions in Life Time Group, including Bank of New York Mellon Corp, which boosted its stake by 41.5%.
• Director John G. Danhakl sold over 11.6 million shares of the company's stock, representing a 28.05% decrease in his holdings, indicating significant insider activity.

Informed Momentum Co LLC purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 153,985 shares of the company's stock, valued at approximately $4,650,000. Life Time Group accounts for about 0.8% of Informed Momentum Co LLC's holdings, making the stock its 18th biggest holding. Informed Momentum Co LLC owned 0.07% of Life Time Group as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Life Time Group by 41.5% during the first quarter. Bank of New York Mellon Corp now owns 311,226 shares of the company's stock valued at $9,399,000 after purchasing an additional 91,311 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Life Time Group during the fourth quarter valued at about $714,000. Renaissance Technologies LLC grew its position in shares of Life Time Group by 8.5% during the fourth quarter. Renaissance Technologies LLC now owns 608,900 shares of the company's stock valued at $13,469,000 after purchasing an additional 47,955 shares in the last quarter. Geode Capital Management LLC grew its position in Life Time Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,529,949 shares of the company's stock worth $33,851,000 after acquiring an additional 32,107 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Life Time Group by 107.7% in the fourth quarter. Two Sigma Investments LP now owns 103,826 shares of the company's stock worth $2,297,000 after acquiring an additional 53,830 shares in the last quarter. 79.40% of the stock is owned by institutional investors.

Life Time Group Price Performance

Shares of LTH stock traded up $0.95 during mid-day trading on Friday, hitting $28.36. 2,229,413 shares of the stock were exchanged, compared to its average volume of 2,827,145. The firm has a fifty day moving average of $28.68 and a 200 day 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. Life Time Group Holdings, Inc. has a 52-week low of $21.49 and a 52-week high of $34.99. The company has a market cap of $6.24 billion, a PE ratio of 27.80 and a beta of 1.73.

Life Time Group (NYSE:LTH - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. Life Time Group had a net margin of 8.03% and a return on equity of 9.05%. The business had revenue of $761.47 million for the quarter, compared to analyst estimates of $752.33 million. During the same period in the prior year, the company posted $0.26 EPS. The company's revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts anticipate that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

LTH has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and set a $36.00 target price on shares of Life Time Group in a research report on Tuesday, June 24th. Wall Street Zen lowered Life Time Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley boosted their price target on Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 price target for the company in a report on Friday, May 23rd. Six investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $35.92.

Insider Activity

In related news, EVP Parham Javaheri sold 84,744 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were 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 $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 is available at the SEC website. Also, Director John G. Danhakl sold 11,655,582 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.38, for a total value of $342,440,999.16. Following the transaction, the director directly owned 29,898,037 shares in the company, valued at $878,404,327.06. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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 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.