Life Time Group (NYSE:LTH) Shares Gap Down on Disappointing Earnings

Life Time Group Holdings, Inc. (NYSE:LTH)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $25.32, but opened at $24.10. Life Time Group shares last traded at $23.24, with a volume of 357,380 shares changing hands.

The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. Life Time Group’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS.

Analysts Set New Price Targets

Several equities research analysts have commented on LTH shares. Craig Hallum began coverage on Life Time Group in a research report on Friday, July 19th. They set a “buy” rating and a $30.00 price target for the company. Bank of America increased their target price on shares of Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price target on shares of Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Life Time Group from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Northland Securities lifted their target price on Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Life Time Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

Insider Activity

In related news, CFO Erik Weaver sold 4,662 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the completion of the sale, the chief financial officer now directly owns 75,866 shares in the company, valued at approximately $1,963,412.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Erik Weaver sold 4,662 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the transaction, the chief financial officer now directly owns 75,866 shares of the company’s stock, valued at approximately $1,963,412.08. The trade was a 0.00 % decrease in their position. The transaction 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 3,575,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $74,646,000.00. Following the sale, the director now directly owns 55,166,700 shares of the company’s stock, valued at $1,151,880,696. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,229,662 shares of company stock valued at $88,338,653 in the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Life Time Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank raised its holdings in Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after acquiring an additional 563 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Life Time Group by 17.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,769 shares of the company’s stock worth $199,000 after purchasing an additional 1,866 shares during the last quarter. Blue Trust Inc. boosted its stake in Life Time Group by 345.5% in the 3rd quarter. Blue Trust Inc. now owns 2,940 shares of the company’s stock valued at $72,000 after purchasing an additional 2,280 shares during the period. Dnca Finance acquired a new position in Life Time Group in the 2nd quarter valued at $72,000. Finally, Daiwa Securities Group Inc. increased its position in Life Time Group by 35.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,170 shares of the company’s stock worth $361,000 after buying an additional 5,020 shares during the period. Institutional investors own 79.40% of the company’s stock.

Life Time Group Stock Up 1.0 %

The stock has a fifty day moving average price of $24.49 and a two-hundred day moving average price of $20.06. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 3.35 and a beta of 1.87. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.77.

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.