Fred Alger Management LLC Buys Shares of 113,168 Life Time Group Holdings, Inc. $LTH

Key Points

• Fred Alger Management LLC has acquired a new position in Life Time Group Holdings, Inc. worth approximately $3.42 million, owning around 0.05% of the company as of the end of the recent quarter.
• Insider activity reported a 3.76% decrease in ownership as EVP Parham Javaheri sold 9,375 shares at an average price of $28.05.
• Analysts have varied views on Life Time Group, with a consensus rating of "Moderate Buy" and a price target averaging $35.92 per share.

Fred Alger Management LLC purchased a new stake in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 113,168 shares of the company's stock, valued at approximately $3,418,000. Fred Alger Management LLC owned approximately 0.05% of Life Time Group at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in shares of Life Time Group in the first quarter valued at about $36,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Life Time Group by 226.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company's stock valued at $53,000 after purchasing an additional 1,214 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Life Time Group in the first quarter valued at about $74,000. Amalgamated Bank lifted its holdings in shares of Life Time Group by 42.3% in the first quarter. Amalgamated Bank now owns 2,898 shares of the company's stock valued at $88,000 after purchasing an additional 862 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of Life Time Group in the first quarter valued at about $121,000. 79.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LTH shares. Guggenheim restated a "buy" rating and issued a $36.00 price target on shares of Life Time Group in a report on Tuesday, June 24th. Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 target price on the stock in a report on Friday, May 23rd. Finally, Wall Street Zen lowered Life Time Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.92.

Insider Buying and Selling at Life Time Group

In other Life Time Group news, EVP Parham Javaheri sold 9,375 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $28.05, for a total value of $262,968.75. Following the sale, the executive vice president owned 240,151 shares of the company's stock, valued at approximately $6,736,235.55. This trade represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company's stock.

Life Time Group Price Performance

Shares of LTH traded down $0.24 during trading hours on Monday, hitting $28.33. 789,857 shares of the company were exchanged, compared to its average volume of 2,487,274. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 27.77 and a beta of 1.72. Life Time Group Holdings, Inc. has a fifty-two week low of $21.49 and a fifty-two week high of $34.99. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $28.60 and its 200 day moving average is $29.38.

Life Time Group (NYSE:LTH - Get Free Report) last released 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. The company had revenue of $761.47 million for the quarter, compared to analyst estimates of $752.33 million. Life Time Group had a return on equity of 9.05% and a net margin of 8.03%.Life Time Group's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Life Time Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

Life Time Group Company 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.