TD Asset Management Inc Invests $446,000 in Life Time Group Holdings, Inc. (NYSE:LTH)

Key Points

• TD Asset Management Inc invested approximately $446,000 in Life Time Group Holdings, purchasing 14,758 shares during the first quarter.
• Life Time Group has seen significant insider selling, with executives selling over 23 million shares worth nearly $692 million recently.
• Equities analysts have a generally positive outlook, with several upgrades and a current average price target of $35.92 for the stock.

TD Asset Management Inc purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,758 shares of the company's stock, valued at approximately $446,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Life Time Group by 41.5% in the first quarter. Bank of New York Mellon Corp now owns 311,226 shares of the company's stock worth $9,399,000 after buying an additional 91,311 shares in the last quarter. Norges Bank purchased a new stake in Life Time Group in the fourth quarter worth $19,198,000. Stifel Financial Corp purchased a new stake in Life Time Group in the fourth quarter worth $714,000. Geode Capital Management LLC lifted its stake in Life Time Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,529,949 shares of the company's stock worth $33,851,000 after acquiring an additional 32,107 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Life Time Group by 8.5% in the fourth quarter. Renaissance Technologies LLC now owns 608,900 shares of the company's stock worth $13,469,000 after purchasing an additional 47,955 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Life Time Group

In other news, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $28.80, for a total transaction of $3,866,313.60. Following the completion of the transaction, the executive vice president directly owned 133,189 shares of the company's stock, valued at approximately $3,835,843.20. This represents a 50.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Parham Javaheri sold 84,744 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $27.84, for a total value of $2,359,272.96. Following the sale, the executive vice president owned 249,526 shares in the company, valued at approximately $6,946,803.84. This trade represents a 25.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,548,155 shares of company stock worth $691,624,905. Corporate insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LTH shares. Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 price target for the company in a report on Friday, May 23rd. Wall Street Zen cut Life Time Group from a "buy" rating to a "hold" rating in a report on Saturday. Morgan Stanley boosted their target price on Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Guggenheim reiterated a "buy" rating and issued a $36.00 target price on shares of Life Time Group in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.92.

Life Time Group Stock Up 2.8%

Life Time Group stock opened at $28.64 on Tuesday. 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 Holdings, Inc. has a 52 week low of $20.38 and a 52 week high of $34.99. The business's 50-day moving average price is $28.98 and its 200 day moving average price is $29.89. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 29.83 and a beta of 1.73.

Life Time Group (NYSE:LTH - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.12. The company had revenue of $706.04 million for the quarter, compared to the consensus estimate of $684.06 million. Life Time Group had a return on equity of 8.29% and a net margin of 7.60%. The company's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts anticipate 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.

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