Life Time Group Holdings, Inc. (NYSE:LTH – Get Free Report) saw unusually large options trading activity on Thursday. Investors bought 3,003 put options on the stock. This is an increase of approximately 215% compared to the typical volume of 954 put options.
Analyst Ratings Changes
LTH has been the subject of several research reports. Jefferies Financial Group raised their target price on Life Time Group from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, June 29th. The Goldman Sachs Group assumed coverage on Life Time Group in a research note on Monday, August 3rd. They set a “buy” rating and a $53.00 price target on the stock. Oppenheimer increased their price target on Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. KeyCorp raised their price objective on Life Time Group from $40.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Guggenheim restated a “buy” rating and set a $50.00 price objective on shares of Life Time Group in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.77.
Life Time Group Stock Up 1.0%
Life Time Group (NYSE:LTH – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.11. The business had revenue of $866.00 million during the quarter, compared to the consensus estimate of $845.75 million. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%.Life Time Group’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. As a group, sell-side analysts forecast that Life Time Group will post 1.57 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Erik Weaver sold 47,748 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $44.80, for a total transaction of $2,139,110.40. Following the transaction, the chief financial officer directly owned 88,918 shares of the company’s stock, valued at $3,983,526.40. This represents a 34.94% 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, EVP Eric J. Buss sold 479,240 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $44.97, for a total transaction of $21,551,422.80. Following the completion of the sale, the executive vice president owned 474,008 shares of the company’s stock, valued at $21,316,139.76. The trade was a 50.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,346,029 shares of company stock worth $396,108,368 over the last ninety days. 13.30% of the stock is owned by company insiders.
Institutional Trading of Life Time Group
Several institutional investors have recently made changes to their positions in LTH. Wexford Capital LP bought a new position in shares of Life Time Group during the third quarter valued at about $40,000. EverSource Wealth Advisors LLC grew its position in Life Time Group by 201.6% in the 2nd 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 in the last quarter. Versant Capital Management Inc grew its position in Life Time Group by 286.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock worth $74,000 after purchasing an additional 1,339 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Life Time Group in the 4th quarter valued at about $73,000. Finally, Phillip James Consulting Co. purchased a new stake in Life Time Group in the 1st quarter valued at about $91,000. Institutional investors own 79.40% of the company’s stock.
About Life Time Group
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.
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