Northern Trust Corp Acquires 187,762 Shares of Life Time Group Holdings, Inc. $LTH

Key Points

• Northern Trust Corp increased its stake in Life Time Group Holdings by 26.7% during the first quarter, owning a total of 889,696 shares worth around $26.87 million.
• Life Time Group reported a 14.0% year-over-year revenue increase for the quarter, with earnings per share of $0.37, surpassing the consensus estimate by $0.04.
• Insider trading activity included Director John G. Danhakl selling over 11.65 million shares, resulting in a 28.05% decrease in his position.

Northern Trust Corp increased its position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 26.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 889,696 shares of the company's stock after buying an additional 187,762 shares during the quarter. Northern Trust Corp owned 0.42% of Life Time Group worth $26,869,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Life Time Group by 41.5% in the 1st quarter. Bank of New York Mellon Corp now owns 311,226 shares of the company's stock valued at $9,399,000 after purchasing an additional 91,311 shares during the period. Deutsche Bank AG grew its position in Life Time Group by 23.3% during the 1st quarter. Deutsche Bank AG now owns 344,881 shares of the company's stock worth $10,415,000 after acquiring an additional 65,146 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Life Time Group by 94.5% during the first quarter. Victory Capital Management Inc. now owns 129,899 shares of the company's stock valued at $3,923,000 after buying an additional 63,115 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of Life Time Group during the first quarter valued at approximately $230,000. Finally, Stifel Financial Corp bought a new stake in Life Time Group in the fourth quarter worth $714,000. 79.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Life Time Group news, EVP Parham Javaheri sold 9,375 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $28.05, for a total transaction of $262,968.75. Following the sale, the executive vice president directly owned 240,151 shares of the company's stock, valued at approximately $6,736,235.55. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on LTH. Craig Hallum raised Life Time Group to a "buy" rating and set a $45.00 target price on the stock in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Life Time Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Guggenheim reissued a "buy" rating and set a $36.00 target price on shares of Life Time Group in a report on Tuesday, June 24th. Finally, Morgan Stanley raised their price target on Life Time Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.92.

Life Time Group Stock Performance

LTH traded down $0.07 on Friday, hitting $28.76. 286,740 shares of the company's stock were exchanged, compared to its average volume of 2,503,411. The stock has a fifty day moving average of $28.69 and a two-hundred day moving average of $29.54. Life Time Group Holdings, Inc. has a twelve month low of $21.49 and a twelve month high of $34.99. The firm has a market cap of $6.33 billion, a PE ratio of 28.24 and a beta of 1.72. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.

Life Time Group (NYSE:LTH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. Life Time Group had a return on equity of 9.05% and a net margin of 8.03%.The business had revenue of $761.47 million during the quarter, compared to analyst estimates of $752.33 million. During the same period last year, the company posted $0.26 EPS. The company's revenue was up 14.0% compared to the same quarter last year. Life Time Group has set its FY 2025 guidance at EPS. On average, research 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.