Life Time Group (NYSE:LTH) Rating Lowered to "Hold" at 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 equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on LTH. Guggenheim restated a "buy" rating and issued a $36.00 target price on shares of Life Time Group in a research report on Tuesday, June 24th. Morgan Stanley upped their target price on Life Time Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Craig Hallum upgraded Life Time Group to a "buy" rating and set a $45.00 target price for the company in a research report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $35.92.

Life Time Group Stock Down 2.8%

NYSE:LTH opened at $27.91 on Friday. The firm has a market capitalization of $6.12 billion, a PE ratio of 29.07 and a beta of 1.73. The stock has a 50 day moving average of $28.98 and a 200-day moving average of $29.83. Life Time Group has a 52 week low of $20.38 and a 52 week high of $34.99. The company has a current ratio of 0.43, a quick ratio of 0.31 and a debt-to-equity ratio of 0.55.

Life Time Group (NYSE:LTH - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.27 by $0.12. The company had revenue of $706.04 million during the quarter, compared to analyst estimates of $684.06 million. Life Time Group had a return on equity of 8.29% and a net margin of 7.60%. The business's revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Analysts predict that Life Time Group will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Erik Weaver sold 18,000 shares of Life Time Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $28.74, for a total transaction of $517,320.00. Following the transaction, the chief financial officer directly owned 86,611 shares of the company's stock, valued at $2,489,200.14. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John G. Danhakl sold 11,655,582 shares of Life Time Group stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.38, for a total transaction of $342,440,999.16. Following the transaction, the director directly owned 29,898,037 shares in the company, valued at approximately $878,404,327.06. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,548,155 shares of company stock valued at $691,624,905 over the last quarter. Company insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Life Time Group

Several institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new stake in Life Time Group in the 2nd quarter valued at $472,000. Austin Private Wealth LLC bought a new stake in Life Time Group during the 2nd quarter worth about $206,000. Peregrine Capital Management LLC lifted its position in Life Time Group by 1.7% during the 2nd quarter. Peregrine Capital Management LLC now owns 287,654 shares of the company's stock worth $8,725,000 after buying an additional 4,739 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Life Time Group by 6.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,877 shares of the company's stock worth $451,000 after buying an additional 907 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Life Time Group during the 2nd quarter worth about $349,000. 79.40% of the stock is owned by 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.

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