Hsbc Holdings PLC Purchases 26,116 Shares of Life Time Group Holdings, Inc. $LTH

Key Points

• HSBC Holdings PLC increased its stake in Life Time Group Holdings, acquiring an additional 26,116 shares, resulting in a total ownership of 65,786 shares valued at approximately $1.96 million.
• Several institutional investors raised their positions in Life Time Group, with notable increases from Amalgamated Bank and Caitong International Asset Management, indicating growing interest in the company.
• Life Time Group's CFO sold 18,000 shares, and insiders collectively sold over 23.5 million shares recently, indicating a significant reduction in their ownership stakes.

Hsbc Holdings PLC boosted its position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 65.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,786 shares of the company's stock after purchasing an additional 26,116 shares during the period. Hsbc Holdings PLC's holdings in Life Time Group were worth $1,957,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Life Time Group by 42.3% during the 1st quarter. Amalgamated Bank now owns 2,898 shares of the company's stock worth $88,000 after purchasing an additional 862 shares in the last quarter. Harbour Investments Inc. bought a new position in Life Time Group during the 1st quarter worth about $36,000. Caitong International Asset Management Co. Ltd increased its holdings in Life Time Group by 226.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company's stock worth $53,000 after purchasing an additional 1,214 shares in the last quarter. Sherbrooke Park Advisers LLC increased its holdings in Life Time Group by 10.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 13,151 shares of the company's stock worth $291,000 after purchasing an additional 1,224 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Life Time Group by 12.4% during the 1st quarter. SG Americas Securities LLC now owns 11,485 shares of the company's stock worth $347,000 after purchasing an additional 1,269 shares in the last quarter. Institutional investors own 79.40% of the company's stock.

Insiders Place Their Bets

In related news, CFO Erik Weaver sold 18,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $28.74, for a total value of $517,320.00. Following the completion of the sale, the chief financial officer directly owned 86,611 shares in the company, valued at approximately $2,489,200.14. This trade represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Parham Javaheri sold 84,744 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $27.84, for a total transaction of $2,359,272.96. Following the completion of the sale, the executive vice president owned 249,526 shares of the company's stock, valued at $6,946,803.84. This trade represents a 25.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,548,155 shares of company stock worth $691,624,905 in the last three months. Insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 target price for the company in a report on Friday, May 23rd. Guggenheim restated a "buy" rating and issued a $36.00 price objective on shares of Life Time Group in a report on Tuesday, June 24th. Wall Street Zen cut Life Time Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley raised their price objective on Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Life Time Group has a consensus rating of "Moderate Buy" and a consensus target price of $35.92.

Life Time Group Trading Down 0.8%

Shares of NYSE:LTH opened at $27.97 on Thursday. Life Time Group Holdings, Inc. has a 52-week low of $21.49 and a 52-week high of $34.99. The company has a market capitalization of $6.15 billion, a P/E ratio of 27.42 and a beta of 1.73. The company has a 50-day simple moving average of $28.81 and a 200 day simple moving average of $29.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.53 and a current ratio of 0.65.

Life Time Group (NYSE:LTH - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $761.47 million during the quarter, compared to the consensus estimate of $752.33 million. During the same period last year, the business posted $0.26 EPS. Life Time Group's revenue was up 14.0% on a year-over-year basis. Life Time Group has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current year.

About Life Time Group

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.

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