Life Time Group (NYSE:LTH) Major Shareholder Partners Group Private Equity Sells 747,178 Shares

Key Points

• Major shareholder Partners Group Private Equity sold 747,178 shares of Life Time Group on May 7 at an average price of $31.46, worth about $23.5 million, reducing its position by 23.51%.
• Life Time Group reported better-than-expected quarterly results, posting EPS of $0.42 versus the $0.39 consensus and revenue of $788.7 million, up 11.7% year over year.
• The stock has been gaining momentum, rising 1.4% to $32.37, while analysts maintain a generally positive view with a consensus rating of “Buy” and an average target price of $40.40.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) major shareholder Partners Group Private Equity sold 747,178 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $31.46, for a total value of $23,506,219.88. Following the completion of the sale, the insider directly owned 2,431,203 shares of the company's stock, valued at approximately $76,485,646.38. This represents a 23.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Partners Group Private Equity also recently made the following trade(s):

• On Tuesday, May 5th, Partners Group Private Equity sold 542,119 shares of Life Time Group stock. The stock was sold at an average price of $28.60, for a total value of $15,504,603.40.

Life Time Group Trading Up 1.4%

Shares of NYSE:LTH traded up $0.44 during trading on Monday, reaching $32.37. 4,013,250 shares of the company traded hands, compared to its average volume of 3,021,881. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.32 and a beta of 1.50. Life Time Group Holdings, Inc. has a 52-week low of $24.14 and a 52-week high of $33.95. 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 business's fifty day moving average is $27.35 and its 200-day moving average is $27.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LTH. Royal Bank of Canada lifted its position in shares of Life Time Group by 140.4% during the 1st quarter. Royal Bank of Canada now owns 54,380 shares of the company's stock valued at $1,642,000 after buying an additional 31,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Life Time Group by 25.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,855 shares of the company's stock valued at $2,140,000 after buying an additional 14,267 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Life Time Group by 143.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,422,304 shares of the company's stock valued at $73,154,000 after buying an additional 1,428,446 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Life Time Group during the 1st quarter valued at about $221,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Life Time Group by 47.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,287 shares of the company's stock valued at $6,018,000 after buying an additional 64,348 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LTH has been the subject of a number of research reports. Guggenheim restated a "buy" rating and set a $36.00 price target on shares of Life Time Group in a report on Friday, January 23rd. Jefferies Financial Group restated a "buy" rating and set a $41.00 price target on shares of Life Time Group in a report on Tuesday, May 5th. Morgan Stanley raised their price target on Life Time Group from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Northland Securities set a $42.00 price target on Life Time Group in a report on Friday, January 23rd. Finally, KeyCorp started coverage on Life Time Group in a report on Thursday, March 12th. They set an "overweight" rating and a $40.00 price target for the company. Two investment 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price 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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