Life Time Group (NYSE:LTH) Director Sells 4,991,749 Shares

Key Points

• Life Time Group director John Danhakl sold 4,991,749 shares on May 7 at an average price of $31.46, generating about $157.0 million and reducing his ownership by 23.51%.
• The company just reported stronger-than-expected quarterly results, with EPS of $0.42 versus the $0.39 consensus and revenue of $788.7 million, up 11.7% year over year.
• Analyst sentiment remains broadly positive, with an average rating of “Buy” and a consensus price target of $40.40; shares were trading up 1.4% to $32.37 in the latest session.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) Director John Danhakl sold 4,991,749 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $31.46, for a total value of $157,040,423.54. Following the sale, the director owned 16,242,383 shares of the company's stock, valued at approximately $510,985,369.18. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Life Time Group Trading Up 1.4%

Shares of LTH stock traded up $0.44 during mid-day trading on Monday, hitting $32.37. The company's stock had a trading volume of 4,013,250 shares, compared to its average volume of 3,021,881. The company has a market cap of $7.20 billion, a PE ratio of 18.93, a P/E/G ratio of 1.32 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.53. The company's fifty day simple moving average is $27.35 and its 200-day simple moving average is $27.20. Life Time Group Holdings, Inc. has a 52 week low of $24.14 and a 52 week high of $33.95.

Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $788.70 million for the quarter, compared to analyst estimates of $787.65 million. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Life Time Group

Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Life Time Group by 244.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 35,492 shares of the company's stock valued at $956,000 after buying an additional 25,200 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Life Time Group by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company's stock worth $217,929,000 after acquiring an additional 1,068,208 shares in the last quarter. Swiss National Bank grew its stake in shares of Life Time Group by 0.6% in the 1st quarter. Swiss National Bank now owns 283,700 shares of the company's stock worth $7,643,000 after acquiring an additional 1,800 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Life Time Group by 79.0% in the first quarter. Bank of New York Mellon Corp now owns 862,524 shares of the company's stock valued at $23,236,000 after purchasing an additional 380,610 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Life Time Group in the first quarter valued at about $596,000. Institutional investors own 79.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Life Time Group from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a "buy" rating and set a $41.00 price objective on shares of Life Time Group in a research report on Tuesday, May 5th. Mizuho raised their target price on Life Time Group from $41.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday. Guggenheim reaffirmed a "buy" rating and set a $36.00 price target on shares of Life Time Group in a research note on Friday, January 23rd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Life Time Group in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $40.40.

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.

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