Life Time Group (NYSE:LTH) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Life Time Group from strong-buy to hold, even as other analysts remain more bullish on the stock.
• The company recently reported better-than-expected quarterly earnings of $0.42 per share on revenue of $788.7 million, with revenue up 11.7% year over year.
• Shares rose 3.6% to $33.24, while notable insider selling totaled 23.1 million shares worth about $717.8 million over the last 90 days.

Life Time Group (NYSE:LTH - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on LTH. Wells Fargo & Company boosted their price target on Life Time Group from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their price target on Life Time Group from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $41.00 price target on shares of Life Time Group in a research note on Tuesday, May 5th. KeyCorp initiated coverage on Life Time Group in a research note on Thursday, March 12th. They issued an "overweight" rating and a $40.00 price target for the company. Finally, Mizuho boosted their price target on Life Time Group from $41.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $40.00.

Life Time Group Stock Up 3.6%

LTH opened at $33.24 on Monday. Life Time Group has a fifty-two week low of $24.14 and a fifty-two week high of $35.33. 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 has a market capitalization of $7.40 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.34 and a beta of 1.50. The stock has a fifty day moving average of $28.84 and a 200-day moving average of $27.79.

Life Time Group (NYSE:LTH - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share 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 the consensus estimate of $787.65 million. During the same quarter last year, the firm earned $0.39 earnings per share. The company's revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Life Time Group will post 1.47 EPS for the current year.

Insiders Place Their Bets

In other Life Time Group news, Director John Kristofer Galashan sold 4,991,749 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $31.46, for a total transaction of $157,040,423.54. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John G. Danhakl sold 4,991,749 shares of the business's 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 in the company, valued at approximately $510,985,369.18. This trade represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,100,829 shares of company stock worth $717,806,921 in the last ninety days. Insiders own 13.30% of the company's stock.

Institutional Trading of Life Time Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Life Time Group by 144.5% during the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company's stock worth $32,000 after purchasing an additional 721 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Life Time Group during the third quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings in shares of Life Time Group by 201.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company's stock worth $45,000 after purchasing an additional 1,002 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Life Time Group during the fourth quarter worth about $73,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Life Time Group by 74.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company's stock worth $76,000 after purchasing an additional 1,225 shares during the last quarter. 79.40% of the stock is currently owned by institutional investors.

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.