1,538,844 Shares in Life Time Group Holdings, Inc. (NYSE:LTH) Bought by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP invested approximately $46.47 million in Life Time Group Holdings, purchasing 1,538,844 shares, which now constitutes about 3.5% of their portfolio.
• Multiple hedge funds, including Wells Fargo and Geode Capital Management, have adjusted their stakes in Life Time Group, contributing to institutional investors owning 79.40% of the company's stock.
• Life Time Group's recent quarterly earnings report revealed a 14% increase in revenue year-over-year, with an EPS of $0.37, surpassing analysts' expectations.

Burkehill Global Management LP bought a new position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,538,844 shares of the company's stock, valued at approximately $46,473,000. Life Time Group accounts for about 3.5% of Burkehill Global Management LP's holdings, making the stock its 8th largest holding. Burkehill Global Management LP owned 0.72% of Life Time Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Life Time Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,529,949 shares of the company's stock valued at $33,851,000 after purchasing an additional 32,107 shares during the period. ExodusPoint Capital Management LP bought a new stake in Life Time Group in the 4th quarter valued at about $283,000. Wells Fargo & Company MN boosted its holdings in Life Time Group by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 44,574 shares of the company's stock valued at $986,000 after purchasing an additional 5,325 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Life Time Group by 891.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 175,332 shares of the company's stock valued at $3,878,000 after purchasing an additional 157,639 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Life Time Group by 11.7% in the 4th quarter. Russell Investments Group Ltd. now owns 50,283 shares of the company's stock valued at $1,112,000 after purchasing an additional 5,252 shares during the period. Institutional investors own 79.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LTH. Morgan Stanley boosted their target price on shares of Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Guggenheim restated a "buy" rating and issued a $36.00 target price on shares of Life Time Group in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Life Time Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Craig Hallum upgraded shares of Life Time Group to a "buy" rating and set a $45.00 target price for the company in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Life Time Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.92.

Insider Buying and Selling

In other news, Director John Kristofer Galashan sold 11,655,582 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.38, for a total value of $342,440,999.16. Following the sale, the director directly owned 29,898,037 shares of the company's stock, valued at approximately $878,404,327.06. This represents a 28.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $28.80, for a total transaction of $3,866,313.60. Following the completion of the sale, the executive vice president directly owned 133,189 shares in the company, valued at approximately $3,835,843.20. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,548,155 shares of company stock worth $691,624,905. Corporate insiders own 8.70% of the company's stock.

Life Time Group Trading Up 0.2%

LTH traded up $0.05 during trading on Wednesday, reaching $27.65. 220,307 shares of the company's stock were exchanged, compared to its average volume of 2,564,609. Life Time Group Holdings, Inc. has a one year low of $21.49 and a one year high of $34.99. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6.08 billion, a PE ratio of 27.06 and a beta of 1.73. The firm has a fifty day moving average price of $28.75 and a two-hundred day moving average price of $29.83.

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 for the quarter, topping analysts' consensus estimates 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 firm had revenue of $761.47 million for the quarter, compared to analyst estimates of $752.33 million. During the same period in the previous year, the firm posted $0.26 EPS. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

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.