Bank of New York Mellon Corp Acquires 380,610 Shares of Life Time Group Holdings, Inc. $LTH

Key Points

• Bank of New York Mellon increased its Life Time Group stake by 79% in the first quarter, acquiring 380,610 shares for a total holding of 862,524 shares valued at approximately $23.2 million.
• Analysts remain bullish on LTH, with a consensus “Buy” rating and an average price target of $47.25; recent targets range from $41 to $63.
• Life Time Group reported quarterly EPS of $0.42, exceeding estimates, while revenue rose 11.7% year over year to $788.7 million. However, insiders sold substantial shares in recent months, including director John Kristofer Galashan’s sale of more than 2.2 million shares.

Bank of New York Mellon Corp increased its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 862,524 shares of the company's stock after acquiring an additional 380,610 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Life Time Group worth $23,236,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Life Time Group by 144.5% during the 4th quarter. GAMMA Investing LLC now owns 1,220 shares of the company's stock worth $32,000 after buying an additional 721 shares during the period. Wexford Capital LP bought a new stake in Life Time Group during the third quarter worth about $40,000. EverSource Wealth Advisors LLC increased its holdings in shares of Life Time Group by 201.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company's stock worth $45,000 after buying an additional 1,002 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Life Time Group in the fourth quarter valued at approximately $73,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Life Time Group by 74.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company's stock worth $76,000 after acquiring an additional 1,225 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LTH shares. Oppenheimer increased their price target on Life Time Group from $43.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. Royal Bank Of Canada reissued an "outperform" rating and issued a $50.00 price target on shares of Life Time Group in a report on Wednesday, July 22nd. Guggenheim lifted their price target on shares of Life Time Group from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Wells Fargo & Company boosted their target price on Life Time Group from $38.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Finally, Mizuho set a $63.00 price objective on Life Time Group in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Life Time Group has a consensus rating of "Buy" and an average price target of $47.25.

Life Time Group Stock Performance

Shares of NYSE:LTH opened at $45.59 on Wednesday. The firm has a market cap of $10.15 billion, a PE ratio of 26.66, a PEG ratio of 1.75 and a beta of 1.51. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The company's 50 day moving average price is $37.71 and its two-hundred day moving average price is $31.57. Life Time Group Holdings, Inc. has a 12-month low of $24.14 and a 12-month high of $45.68.

Life Time Group (NYSE:LTH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $788.70 million for the quarter, compared to analyst estimates of $787.65 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Equities research analysts predict that Life Time Group Holdings, Inc. will post 1.53 earnings per share for the current year.

Insiders Place Their Bets

In other Life Time Group news, Director John Kristofer Galashan sold 2,208,580 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the sale, the director directly owned 11,027,703 shares of the company's stock, valued at $315,392,305.80. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ritadhwaja Jebens Singh sold 67,751 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $38.65, for a total transaction of $2,618,576.15. Following the completion of the transaction, the executive vice president directly owned 138,351 shares in the company, valued at approximately $5,347,266.15. The trade was a 32.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,943,861 shares of company stock worth $857,228,555 over the last three months. Insiders own 13.30% of the company's stock.

About Life Time Group

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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