Life Time Group Holdings, Inc. $LTH Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Life Time Group stake by 91.6% in the second quarter, selling 56,958 shares and retaining 5,245 shares worth approximately $214,000. Institutional investors and hedge funds collectively own 79.4% of LTH.
• Life Time directors sold substantial holdings: John Galashan and John G. Danhakl each sold 2.88 million shares at $43.80, while insiders sold 6.97 million shares worth about $306 million over the past three months.
• Despite insider selling, analysts remain positive, with a consensus “Buy” rating and an average price target of $55.31. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.48 EPS and $866 million in revenue.

Corient Private Wealth LP reduced its position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 91.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,245 shares of the company's stock after selling 56,958 shares during the quarter. Corient Private Wealth LP's holdings in Life Time Group were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LTH. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Life Time Group in the second quarter valued at approximately $388,000. Odyssean LLC grew its holdings in Life Time Group by 23.8% during the 2nd quarter. Odyssean LLC now owns 70,954 shares of the company's stock worth $2,898,000 after acquiring an additional 13,631 shares during the period. Nykredit A S bought a new stake in shares of Life Time Group during the 2nd quarter valued at $47,000. Wedbush Securities Inc. bought a new stake in shares of Life Time Group during the 2nd quarter valued at $218,000. Finally, Wellington Management Group LLP lifted its stake in shares of Life Time Group by 1.6% in the 2nd quarter. Wellington Management Group LLP now owns 6,308,310 shares of the company's stock valued at $257,631,000 after purchasing an additional 99,154 shares during the period. 79.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Life Time Group

In related news, Director John Galashan sold 2,879,154 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $43.80, for a total value of $126,106,945.20. Following the sale, the director directly owned 3,029,450 shares of the company's stock, valued at approximately $132,689,910. The trade was a 48.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John G. Danhakl sold 2,879,154 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total transaction of $126,106,945.20. Following the completion of the transaction, the director directly owned 3,029,450 shares of the company's stock, valued at approximately $132,689,910. The trade was a 48.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,966,063 shares of company stock valued at $306,031,935 over the last three months. Insiders own 13.30% of the company's stock.

Analyst Ratings Changes

LTH has been the topic of a number of recent analyst reports. UBS Group set a $63.00 target price on Life Time Group in a report on Wednesday, September 23rd. Zacks Research raised Life Time Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Northland Securities set a $57.00 price target on shares of Life Time Group in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $54.00 price target on shares of Life Time Group in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Life Time Group from $46.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $55.31.

Life Time Group Stock Down 2.4%

Shares of Life Time Group stock opened at $40.01 on Tuesday. The company has a market capitalization of $8.94 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.66 and a quick ratio of 0.56. The business has a 50-day moving average of $42.78 and a two-hundred day moving average of $36.66. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $47.24.

Life Time Group (NYSE:LTH - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $866.00 million for the quarter, compared to analysts' expectations of $845.75 million. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%.Life Time Group's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, equities analysts predict that Life Time Group Holdings, Inc. will post 1.59 EPS for the current year.

About Life Time Group

Life Time Group Holdings, Inc operates a network of athletic country clubs and wellness centers under the Life Time brand. Its facilities offer fitness equipment and training, group exercise classes, indoor and outdoor pools, sports courts, childcare, spas, salons, cafés and other services designed to support health, wellness and an active lifestyle.

The company also provides personal training, performance programs, nutrition services and organized athletic activities, including events and leagues for sports such as pickleball and tennis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.