Handelsbanken Fonder AB Grows Stock Holdings in Life Time Group Holdings, Inc. $LTH

Key Points

• Institutional ownership increased: Handelsbanken Fonder AB raised its Life Time Group stake by 138.3% to 63,400 shares, while institutional investors collectively own 79.4% of the company.
• Analysts remain bullish: Multiple firms raised their price targets, with Life Time Group carrying a consensus “Buy” rating and an average target of $53.77.
• Strong results alongside insider selling: Life Time Group exceeded quarterly earnings and revenue estimates, reporting $0.48 EPS and $866 million in revenue, although insiders sold $396.1 million of stock over the past 90 days.

Handelsbanken Fonder AB raised its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 138.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,400 shares of the company's stock after acquiring an additional 36,800 shares during the quarter. Handelsbanken Fonder AB's holdings in Life Time Group were worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LTH. Vanguard Group Inc. grew its position in shares of Life Time Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company's stock valued at $362,651,000 after purchasing an additional 143,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Life Time Group by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company's stock worth $217,929,000 after purchasing an additional 1,068,208 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Life Time Group by 41.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company's stock worth $216,644,000 after purchasing an additional 2,091,712 shares during the period. Wellington Management Group LLP boosted its stake in Life Time Group by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company's stock worth $155,852,000 after purchasing an additional 34,964 shares during the period. Finally, Bank of America Corp DE boosted its stake in Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company's stock worth $117,797,000 after purchasing an additional 2,156,033 shares during the period. Hedge funds and other institutional investors own 79.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Life Time Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Jefferies Financial Group raised their price objective on shares of Life Time Group from $41.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Oppenheimer boosted their price objective on shares of Life Time Group from $43.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Northland Securities set a $57.00 target price on shares of Life Time Group in a report on Friday, July 31st. Finally, UBS Group increased their target price on shares of Life Time Group from $43.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Life Time Group currently has a consensus rating of "Buy" and an average price target of $53.77.

Insider Activity

In related news, EVP Eric J. Buss sold 479,240 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $44.97, for a total value of $21,551,422.80. Following the completion of the sale, the executive vice president owned 474,008 shares in the company, valued at $21,316,139.76. The trade was a 50.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Erik Weaver sold 47,748 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $44.80, for a total value of $2,139,110.40. Following the completion of the sale, the chief financial officer owned 88,918 shares of the company's stock, valued at $3,983,526.40. The trade was a 34.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,346,029 shares of company stock valued at $396,108,368. 13.30% of the stock is owned by insiders.

Life Time Group Stock Performance

Life Time Group stock opened at $45.15 on Monday. Life Time Group Holdings, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $47.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.66. The stock has a market cap of $10.09 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.66 and a beta of 1.50. The firm's fifty day moving average price is $40.78 and its 200-day moving average price is $33.09.

Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.11. The company had revenue of $866.00 million during the quarter, compared to analyst estimates of $845.75 million. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts expect that Life Time Group Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Life Time Group Company 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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