Wellington Management Group LLP Raises Holdings in Life Time Group Holdings, Inc. $LTH

Key Points

• Wellington Management increased its Life Time Group stake by 1.6% in the second quarter, holding 6.31 million shares worth approximately $257.6 million, or 2.82% of the company. Institutional investors collectively own 79.4% of LTH.
• Life Time Group reported quarterly EPS of $0.48, beating estimates by $0.11, while revenue rose 13.7% year over year to $866 million. The stock opened at $43.58, near its 12-month high of $47.24.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $54.85; however, insiders sold roughly 11.6 million shares worth $438.2 million over the past 90 days.

Wellington Management Group LLP increased its holdings in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,308,310 shares of the company's stock after buying an additional 99,154 shares during the period. Wellington Management Group LLP owned about 2.82% of Life Time Group worth $257,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LTH. Thrivent Financial for Lutherans bought a new position in shares of Life Time Group in the 4th quarter worth $41,721,000. Quantinno Capital Management LP boosted its position in Life Time Group by 455.2% during the first quarter. Quantinno Capital Management LP now owns 76,101 shares of the company's stock valued at $2,050,000 after purchasing an additional 62,393 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Life Time Group by 138.3% in the second quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company's stock valued at $2,589,000 after purchasing an additional 36,800 shares during the last quarter. Vanguard Group Inc. grew its stake in Life Time Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company's stock valued at $362,651,000 after purchasing an additional 143,487 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Life Time Group by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 3,519,811 shares of the company's stock worth $93,572,000 after purchasing an additional 207,822 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company's stock.

Insider Buying and Selling

In other news, Director John G. Danhakl sold 2,879,154 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total value of $126,106,945.20. Following the completion of the sale, the director directly owned 3,029,450 shares in the company, valued at $132,689,910. The trade was a 48.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Kristofer Galashan sold 2,879,154 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total transaction of $126,106,945.20. Following the transaction, the director owned 3,029,450 shares of the company's stock, valued at $132,689,910. This represents a 48.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,642,177 shares of company stock valued at $438,237,437 in the last ninety days. Company insiders own 13.30% of the company's stock.

Life Time Group Trading Up 0.2%

NYSE LTH opened at $43.58 on Monday. Life Time Group Holdings, Inc. has a 12-month low of $24.14 and a 12-month high of $47.24. The company has a fifty day simple moving average of $42.85 and a two-hundred day simple moving average of $34.17. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.74 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.57 and a beta of 1.50.

Life Time Group (NYSE:LTH - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. The firm had revenue of $866.00 million for the quarter, compared to analyst estimates of $845.75 million. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%.Life Time Group's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. On average, analysts forecast that Life Time Group Holdings, Inc. will post 1.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LTH shares. Royal Bank Of Canada raised their price target on shares of Life Time Group from $50.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Bank of America reiterated a "buy" rating and set a $51.00 price objective on shares of Life Time Group in a research note on Friday, July 31st. The Goldman Sachs Group began coverage on shares of Life Time Group in a research note on Monday, August 3rd. They issued a "buy" rating and a $53.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $54.00 price target on shares of Life Time Group in a report on Friday, July 31st. Finally, Morgan Stanley increased their price objective on Life Time Group from $39.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Life Time Group has a consensus rating of "Buy" and an average price target of $54.85.

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.

Want to see what other hedge funds are holding LTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Time Group Holdings, Inc. (NYSE:LTH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source