Manatuck Hill Partners LLC Increases Position in Life Time Group Holdings, Inc. $LTH

Key Points

• Manatuck Hill Partners increased its stake in Life Time Group by 25% in the fourth quarter, buying 50,000 more shares and bringing its total to 250,000 shares worth about $6.6 million.
• Several analysts remain positive on LTH, with recent price targets ranging from $40 to $44 and a consensus rating of Moderate Buy with an average target of $40.80.
• Life Time Group reported better-than-expected quarterly results, posting $0.42 EPS on $788.7 million in revenue, while insiders also made large share sales during the quarter.

Manatuck Hill Partners LLC boosted its holdings in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,000 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Life Time Group comprises 2.3% of Manatuck Hill Partners LLC's portfolio, making the stock its 15th largest position. Manatuck Hill Partners LLC owned approximately 0.11% of Life Time Group worth $6,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Life Time Group by 144.5% in the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company's stock worth $32,000 after purchasing an additional 721 shares during the period. Wexford Capital LP purchased a new stake in Life Time Group in the third quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings in Life Time Group by 201.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company's stock worth $45,000 after purchasing an additional 1,002 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Life Time Group in the fourth quarter worth about $73,000. Finally, Nisa Investment Advisors LLC grew its holdings in Life Time Group by 74.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company's stock worth $76,000 after purchasing an additional 1,225 shares during the period. Hedge funds and other institutional investors own 79.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LTH. KeyCorp began coverage on shares of Life Time Group in a report on Thursday, March 12th. They issued an "overweight" rating and a $40.00 price objective on the stock. UBS Group restated a "buy" rating and issued a $43.00 price objective on shares of Life Time Group in a report on Thursday, March 12th. Royal Bank Of Canada upped their price objective on shares of Life Time Group from $38.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Guggenheim increased their price target on shares of Life Time Group from $36.00 to $41.00 and gave the company a "buy" rating in a report on Monday. Finally, Mizuho increased their price target on shares of Life Time Group from $41.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

Insider Activity at Life Time Group

In related news, Director John G. Danhakl sold 4,991,749 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $157,040,423.54. Following the transaction, the director owned 16,242,383 shares in the company, valued at $510,985,369.18. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Partners Group Private Equity sold 747,178 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $23,506,219.88. Following the transaction, the insider owned 2,431,203 shares in the company, valued at approximately $76,485,646.38. This trade represents a 23.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,876,110 shares of company stock worth $854,609,979 over the last quarter. Company insiders own 13.30% of the company's stock.

Life Time Group Trading Down 0.9%

NYSE:LTH opened at $34.57 on Thursday. The company's 50 day moving average price is $31.03 and its 200-day moving average price is $28.62. Life Time Group Holdings, Inc. has a 52 week low of $24.14 and a 52 week high of $35.35. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.44 and a beta of 1.55.

Life Time Group (NYSE:LTH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $788.70 million for the quarter, compared to analysts' expectations of $787.65 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The business's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts forecast that Life Time Group Holdings, Inc. will post 1.48 earnings per share for the current fiscal year.

Life Time Group 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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