Wedge Capital Management L L P NC Boosts Stock Holdings in Life Time Group Holdings, Inc. $LTH

Key Points

• Wedge Capital Management L L P NC increased its stake in Life Time Group Holdings, Inc. by 1.7%, owning approximately 1,362,879 shares valued at $41,336,000 as of the latest reporting period.
• Life Time Group reported earnings of $0.37 per share, exceeding analysts' estimates of $0.33, with a revenue of $761.47 million for the last quarter, marking a 14.0% increase from the previous year.
• Insider trading has been notable with Director John Kristofer Galashan selling nearly 5 million shares for over $144 million, while overall, insiders sold approximately 10.7 million shares within the last ninety days.

Wedge Capital Management L L P NC raised its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,362,879 shares of the company's stock after buying an additional 22,790 shares during the period. Wedge Capital Management L L P NC owned about 0.62% of Life Time Group worth $41,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co purchased a new stake in shares of Life Time Group in the second quarter worth $697,000. Moody National Bank Trust Division increased its stake in shares of Life Time Group by 12.1% in the second quarter. Moody National Bank Trust Division now owns 112,501 shares of the company's stock worth $3,412,000 after purchasing an additional 12,178 shares in the last quarter. MRA Advisory Group increased its stake in shares of Life Time Group by 58.9% in the second quarter. MRA Advisory Group now owns 18,658 shares of the company's stock worth $566,000 after purchasing an additional 6,917 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Life Time Group by 30.8% in the first quarter. Voya Investment Management LLC now owns 28,242 shares of the company's stock worth $853,000 after purchasing an additional 6,645 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Life Time Group by 32.7% in the first quarter. Rhumbline Advisers now owns 121,552 shares of the company's stock worth $3,671,000 after purchasing an additional 29,980 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LTH shares. Wall Street Zen cut shares of Life Time Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Guggenheim restated a "buy" rating and set a $36.00 target price on shares of Life Time Group in a research report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.92.

Insider Activity

In other news, major shareholder Partners Group Private Equity sold 745,707 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $28.95, for a total value of $21,588,217.65. Following the completion of the sale, the insider owned 3,720,500 shares in the company, valued at approximately $107,708,475. This trade represents a 16.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John G. Danhakl sold 4,991,976 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $28.95, for a total transaction of $144,517,705.20. Following the completion of the sale, the director owned 24,906,061 shares of the company's stock, valued at $721,030,465.95. This trade represents a 16.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,739,034 shares of company stock worth $310,886,597 over the last 90 days. Insiders own 8.70% of the company's stock.

Life Time Group Price Performance

LTH stock traded down $0.30 during trading on Tuesday, hitting $28.01. 929,446 shares of the company's stock traded hands, compared to its average volume of 2,496,815. Life Time Group Holdings, Inc. has a 52 week low of $21.49 and a 52 week high of $34.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.53 and a current ratio of 0.65. The business has a fifty day simple moving average of $28.43 and a 200 day simple moving average of $29.26. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 27.51 and a beta of 1.72.

Life Time Group (NYSE:LTH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The business had revenue of $761.47 million during the quarter, compared to analyst estimates of $752.33 million. Life Time Group had a net margin of 8.03% and a return on equity of 9.05%. Life Time Group's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 earnings per share. Life Time Group has set its FY 2025 guidance at EPS. As a group, research analysts expect that Life Time Group Holdings, Inc. will post 0.74 EPS 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.