Life Time Group (NYSE:LTH) Stock Moved Down to “Hold” by Zacks Research

Life Time Group (NYSE:LTH) 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 reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Life Time Group from $39.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft set a $54.00 price target on Life Time Group in a research report on Friday, July 31st. Weiss Ratings upgraded Life Time Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. UBS Group set a $63.00 price objective on Life Time Group in a research note on Wednesday, September 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Life Time Group in a report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $55.31.

Life Time Group Stock Up 1.3%

LTH stock opened at $41.13 on Monday. The firm’s fifty day simple moving average is $41.90 and its 200-day simple moving average is $37.76. The company has a market capitalization of $9.19 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.66 and a quick ratio of 0.56. Life Time Group has a 12 month low of $24.14 and a 12 month high of $47.24.

Life Time Group (NYSE:LTH) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The firm had revenue of $866.00 million for the quarter, compared to analyst estimates of $845.75 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Life Time Group will post 1.59 earnings per share for the current year.

Insider Buying and Selling at Life Time Group

In related news, CFO Erik Weaver sold 5,787 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $39.77, for a total value of $230,148.99. Following the completion of the transaction, the chief financial officer directly owned 83,131 shares in the company, valued at $3,306,119.87. The trade was a 6.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John G. Danhakl sold 2,879,154 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total transaction of $126,106,945.20. Following the sale, the director directly owned 3,029,450 shares in the company, valued at $132,689,910. This trade represents a 48.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,971,850 shares of company stock worth $306,262,084. 13.30% of the stock is currently owned by insiders.

Institutional Trading of Life Time Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its holdings in Life Time Group by 455.2% in the first quarter. Quantinno Capital Management LP now owns 76,101 shares of the company’s stock valued at $2,050,000 after buying an additional 62,393 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Life Time Group by 138.3% in the second quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock worth $2,589,000 after acquiring an additional 36,800 shares during the period. Maven Securities LTD purchased a new stake in shares of Life Time Group during the 2nd quarter worth about $1,034,000. Squarepoint Ops LLC purchased a new stake in shares of Life Time Group during the 2nd quarter worth about $2,183,000. Finally, Tidal Investments LLC acquired a new stake in shares of Life Time Group during the 2nd quarter valued at about $14,439,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Life Time Group Company Profile

Life Time Group Holdings, Inc (NYSE: LTH) operates a network of luxury athletic country clubs in the United States and Canada. The company’s facilities combine fitness, sports, health, and wellness services in an integrated club environment designed for individuals and families.

Life Time clubs typically offer cardiovascular and strength-training equipment, group fitness classes, personal training, indoor and outdoor pools, tennis, pickleball, basketball, and other athletic programs. Many locations also provide childcare, spas, cafés, workspaces, recovery services, and specialized programs for children, older adults, and other member groups.