Life Time Group (NYSE:LTH) Director Sells $1,363,384.51 in Stock

Key Points

• Director Jimena Almendares sold 40,589 shares of Life Time Group stock on June 10 for about $1.36 million, cutting her ownership by more than half.
• LTH shares dipped 1.8% to $34.23, though the stock remains near its 52-week high of $35.33 and above its longer-term moving averages.
• Life Time Group beat earnings expectations in its latest quarter, posting $0.42 EPS versus $0.39 expected, while revenue rose 11.7% year over year to $788.7 million.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) Director Jimena Almendares sold 40,589 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $33.59, for a total transaction of $1,363,384.51. Following the completion of the transaction, the director directly owned 36,983 shares in the company, valued at $1,242,258.97. This trade represents a 52.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Life Time Group Trading Down 1.8%

NYSE:LTH traded down $0.64 during trading hours on Friday, hitting $34.23. The company had a trading volume of 2,215,504 shares, compared to its average volume of 2,878,747. The company has a 50-day moving average of $30.43 and a 200 day moving average of $28.42. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. The company has a market cap of $7.62 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.38 and a beta of 1.55. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $35.33.

Life Time Group (NYSE:LTH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The firm had revenue of $788.70 million during the quarter, compared to analyst estimates of $787.65 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Life Time Group's quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts expect that Life Time Group Holdings, Inc. will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on LTH shares. The Goldman Sachs Group restated a "neutral" rating and issued a $37.00 price objective on shares of Life Time Group in a report on Wednesday, May 6th. KeyCorp assumed coverage on Life Time Group in a research note on Thursday, March 12th. They issued an "overweight" rating and a $40.00 price objective for the company. Mizuho upped their price target on Life Time Group from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. UBS Group reaffirmed a "buy" rating and set a $43.00 price objective on shares of Life Time Group in a report on Thursday, March 12th. Finally, Royal Bank Of Canada lifted their price objective on Life Time Group from $38.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.30.

Hedge Funds Weigh In On Life Time Group

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Life Time Group by 1.1% during 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 period. Dimensional Fund Advisors LP boosted its stake in Life Time Group by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company's stock valued at $217,929,000 after acquiring an additional 1,068,208 shares during the period. Ameriprise Financial Inc. lifted its stake in Life Time Group by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company's stock valued at $216,644,000 after buying an additional 2,091,712 shares during the last quarter. Wellington Management Group LLP grew its position in Life Time Group by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company's stock worth $155,852,000 after purchasing an additional 34,964 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Life Time Group by 102.1% during the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company's stock worth $117,797,000 after acquiring an additional 2,156,033 shares during the period. Hedge funds and other institutional investors own 79.40% of the company's stock.

Life Time Group Company 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.

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.