Life Time Group (NYSE:LTH) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Life Time Group has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• Despite the downgrade, the stock maintains an average rating of "Moderate Buy" with a consensus price target of $35.92, as assessed by multiple analysts.
• Insider trading activity included significant sales of shares by CFO Erik Weaver and Director John G. Danhakl, affecting their ownership percentages by 17.21% and 28.05%, respectively.

Life Time Group (NYSE:LTH - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

LTH has been the subject of several other research reports. Morgan Stanley raised their price objective on Life Time Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Guggenheim reiterated a "buy" rating and set a $36.00 price target on shares of Life Time Group in a report on Tuesday, June 24th. Finally, Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 price target for the company in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.92.

Life Time Group Trading Down 5.5%

LTH traded down $1.56 during mid-day trading on Friday, reaching $27.03. The stock had a trading volume of 3,234,111 shares, compared to its average volume of 2,542,201. The firm's fifty day simple moving average is $28.98 and its two-hundred day simple moving average is $29.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.43. The stock has a market capitalization of $5.93 billion, a P/E ratio of 28.23 and a beta of 1.73. Life Time Group 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 quarterly earnings data on Tuesday, August 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Life Time Group had a return on equity of 8.29% and a net margin of 7.60%. The business had revenue of $761.47 million for the quarter, compared to analyst estimates of $752.33 million. During the same period in the previous year, the business posted $0.26 EPS. The business's quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Life Time Group will post 0.74 EPS for the current year.

Insider Transactions at Life Time Group

In related news, Director John G. Danhakl sold 11,655,582 shares of the stock in a transaction that occurred on 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 transaction, the director owned 29,898,037 shares in the company, valued at $878,404,327.06. This represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 134,247 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $28.80, for a total transaction of $3,866,313.60. Following the completion of the transaction, the executive vice president owned 133,189 shares in the company, valued at $3,835,843.20. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,548,155 shares of company stock valued at $691,624,905. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Life Time Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. purchased a new position in Life Time Group during the first quarter valued at $36,000. Kapitalo Investimentos Ltda bought a new stake in shares of Life Time Group in the 4th quarter worth about $33,000. Nisa Investment Advisors LLC lifted its holdings in shares of Life Time Group by 98.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company's stock worth $46,000 after acquiring an additional 749 shares during the last quarter. IFP Advisors Inc lifted its holdings in Life Time Group by 10,150.0% during the 2nd quarter. IFP Advisors Inc now owns 1,640 shares of the company's stock valued at $51,000 after buying an additional 1,624 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Life Time Group by 226.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company's stock valued at $53,000 after buying an additional 1,214 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

About Life Time Group

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.