Spire Wealth Management Purchases New Shares in Life Time Group Holdings, Inc. (NYSE:LTH)

Spire Wealth Management bought a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 27,340 shares of the company's stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new stake in shares of Life Time Group in the fourth quarter valued at $33,000. Sterling Capital Management LLC lifted its holdings in Life Time Group by 892.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,025 shares of the company's stock valued at $45,000 after purchasing an additional 1,821 shares in the last quarter. Quarry LP boosted its stake in shares of Life Time Group by 240.4% during the 4th quarter. Quarry LP now owns 2,335 shares of the company's stock worth $52,000 after purchasing an additional 1,649 shares during the last quarter. Dnca Finance boosted its stake in shares of Life Time Group by 11.9% during the 4th quarter. Dnca Finance now owns 3,830 shares of the company's stock worth $85,000 after purchasing an additional 407 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Life Time Group during the fourth quarter worth about $88,000. Institutional investors and hedge funds own 79.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LTH. Deutsche Bank Aktiengesellschaft set a $36.00 target price on shares of Life Time Group and gave the stock a "buy" rating in a research report on Monday, March 3rd. Guggenheim restated a "buy" rating and set a $36.00 price objective on shares of Life Time Group in a report on Tuesday, June 24th. The Goldman Sachs Group lifted their price objective on Life Time Group from $22.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. BMO Capital Markets set a $28.00 target price on Life Time Group and gave the stock a "hold" rating in a research report on Friday, March 14th. Finally, Craig Hallum raised Life Time Group to a "buy" rating and set a $45.00 price target on the stock in a research note on Friday, May 23rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.92.

Insider Activity

In other news, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $28.80, for a total value of $3,866,313.60. Following the completion of the sale, the executive vice president owned 133,189 shares in the company, valued at approximately $3,835,843.20. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief financial officer owned 86,611 shares in the company, valued at approximately $2,489,200.14. The trade was a 17.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,548,155 shares of company stock worth $691,624,905 in the last quarter. Insiders own 8.70% of the company's stock.

Life Time Group Trading Down 2.9%

Shares of NYSE LTH traded down $0.88 during midday trading on Tuesday, hitting $29.45. The stock had a trading volume of 2,382,690 shares, compared to its average volume of 1,971,837. The company has a fifty day moving average price of $29.46 and a 200 day moving average price of $28.82. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 30.68 and a beta of 1.74. Life Time Group Holdings, Inc. has a 1-year low of $18.53 and a 1-year high of $34.99. The company has a quick ratio of 0.31, a current ratio of 0.43 and a debt-to-equity ratio of 0.55.

Life Time Group (NYSE:LTH - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.12. Life Time Group had a net margin of 7.60% and a return on equity of 8.29%. The firm had revenue of $706.04 million for the quarter, compared to analysts' expectations of $684.06 million. During the same period in the previous year, the company posted $0.15 earnings per share. Life Time Group's revenue was up 18.3% compared to the same quarter last year. On average, analysts predict that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current year.

Life Time Group 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.