ABN Amro Investment Solutions Sells 35,570 Shares of Life Time Group Holdings, Inc. $LTH

Key Points

• ABN Amro Investment Solutions reduced its stake in Life Time Group by 38.7% in the fourth quarter, selling 35,570 shares and leaving it with 56,276 shares valued at about $1.5 million.
• Insider selling has been notable, with EVP Parham Javaheri and CFO Erik Weaver both selling shares in May; the article says insiders have sold 16.6 million shares worth about $507.7 million over the last 90 days.
• Life Time Group posted better-than-expected results for the latest quarter, beating EPS and revenue estimates, while analysts remain broadly positive with a consensus rating of “Buy” and an average price target of $40.

ABN Amro Investment Solutions trimmed its position in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,276 shares of the company's stock after selling 35,570 shares during the period. ABN Amro Investment Solutions' holdings in Life Time Group were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Life Time Group by 129.3% in the third quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company's stock valued at $160,868,000 after acquiring an additional 3,286,229 shares during the last quarter. Bank of America Corp DE increased its position in Life Time Group by 102.1% during the third quarter. Bank of America Corp DE now owns 4,268,011 shares of the company's stock worth $117,797,000 after buying an additional 2,156,033 shares during the last quarter. Ameriprise Financial Inc. increased its position in Life Time Group by 41.3% during the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company's stock worth $216,644,000 after buying an additional 2,091,712 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Life Time Group by 2,328.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company's stock worth $56,175,000 after buying an additional 1,775,837 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in Life Time Group during the fourth quarter worth approximately $41,721,000. 79.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Life Time Group

In related news, EVP Parham Javaheri sold 62,900 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $31.80, for a total transaction of $2,000,220.00. Following the sale, the executive vice president owned 246,574 shares of the company's stock, valued at $7,841,053.20. This represents a 20.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Erik Weaver sold 22,000 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $32.69, for a total value of $719,180.00. Following the sale, the chief financial officer owned 114,166 shares of the company's stock, valued at $3,732,086.54. The trade was a 16.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,638,669 shares of company stock valued at $507,722,099 over the last ninety days. 13.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LTH has been the topic of a number of recent analyst reports. Zacks Research raised Life Time Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. UBS Group reissued a "buy" rating and set a $43.00 price target on shares of Life Time Group in a research report on Thursday, March 12th. KeyCorp started coverage on Life Time Group in a research report on Thursday, March 12th. They set an "overweight" rating and a $40.00 price target on the stock. Wells Fargo & Company upped their target price on Life Time Group from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, Mizuho upped their target price on Life Time Group from $41.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Life Time Group has an average rating of "Buy" and a consensus target price of $40.00.

Life Time Group Trading Down 2.6%

Shares of NYSE:LTH opened at $32.09 on Friday. The company has a market capitalization of $7.14 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.34 and a beta of 1.50. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $35.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. The business's 50 day simple moving average is $28.57 and its 200 day simple moving average is $27.67.

Life Time Group (NYSE:LTH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $788.70 million for the quarter, compared to the consensus estimate of $787.65 million. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, research analysts anticipate that Life Time Group Holdings, Inc. will post 1.47 EPS for the current fiscal year.

Life Time Group 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.

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