Zions Bancorporation National Association UT Makes New Investment in Life Time Group Holdings, Inc. (NYSE:LTH)

Key Points

• Zions Bancorporation has acquired a new stake in Life Time Group Holdings, Inc., purchasing 42,871 shares worth approximately $1,295,000 during Q1 2023.
• A recent earnings report showed that Life Time Group exceeded analysts' expectations with an EPS of $0.37, compared to the consensus estimate of $0.33, and revenue of $761.47 million, reflecting a 14% year-over-year increase.
• Insider sales reported include a significant transaction where Director John Kristofer Galashan sold over 11.6 million shares, resulting in a 28.05% decrease in his ownership stake.

Zions Bancorporation National Association UT bought a new stake in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,871 shares of the company's stock, valued at approximately $1,295,000.

Other large investors also recently modified their holdings of the company. Kapitalo Investimentos Ltda purchased a new position in shares of Life Time Group in the fourth quarter valued at $33,000. Harbour Investments Inc. bought a new stake in Life Time Group during the first quarter worth about $36,000. Sterling Capital Management LLC lifted its stake in Life Time Group by 892.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,025 shares of the company's stock worth $45,000 after purchasing an additional 1,821 shares during the last quarter. Quarry LP lifted its stake in Life Time Group by 240.4% during the fourth 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. Finally, Dnca Finance lifted its stake in shares of Life Time Group by 11.9% in the 4th quarter. Dnca Finance now owns 3,830 shares of the company's stock valued at $85,000 after acquiring an additional 407 shares during the last quarter. Institutional investors own 79.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Craig Hallum raised Life Time Group to a "buy" rating and set a $45.00 price target for the company in a research report on Friday, May 23rd. Wall Street Zen downgraded Life Time Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price objective 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 reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Life Time Group in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.92.

Life Time Group Stock Performance

LTH opened at $26.95 on Friday. The firm's fifty day simple moving average is $28.83 and its two-hundred day simple moving average is $29.84. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 26.42 and a beta of 1.73. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. Life Time Group Holdings, Inc. has a 52-week low of $21.49 and a 52-week high of $34.99.

Life Time Group (NYSE:LTH - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.04. Life Time Group had a net margin of 8.03% and a return on equity of 9.05%. The business had revenue of $761.47 million during the quarter, compared to analysts' expectations of $752.33 million. During the same period in the prior year, the business earned $0.26 earnings per share. The company's quarterly revenue was up 14.0% compared to the same quarter last year. Equities analysts anticipate that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Life Time Group

In other Life Time Group news, Director John Kristofer Galashan sold 11,655,582 shares of Life Time Group stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.38, for a total transaction of $342,440,999.16. Following the completion of the sale, the director directly owned 29,898,037 shares in the company, valued at $878,404,327.06. This trade represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Parham Javaheri sold 84,744 shares of Life Time Group stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $27.84, for a total transaction of $2,359,272.96. Following the sale, the executive vice president owned 249,526 shares of the company's stock, valued at approximately $6,946,803.84. This represents a 25.35% 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 valued at $691,624,905 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

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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