Handelsbanken Fonder AB Raises Position in Life Time Group Holdings, Inc. $LTH

Handelsbanken Fonder AB boosted its holdings in Life Time Group Holdings, Inc. (NYSE:LTHFree Report) by 138.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,400 shares of the company’s stock after purchasing an additional 36,800 shares during the period. Handelsbanken Fonder AB’s holdings in Life Time Group were worth $2,589,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wexford Capital LP purchased a new position in shares of Life Time Group in the third quarter worth about $40,000. EverSource Wealth Advisors LLC lifted its stake in shares of Life Time Group by 201.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 1,002 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Life Time Group during the 4th quarter valued at about $73,000. Versant Capital Management Inc boosted its holdings in Life Time Group by 286.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock valued at $74,000 after acquiring an additional 1,339 shares during the period. Finally, Phillip James Consulting Co. bought a new position in Life Time Group during the 1st quarter worth approximately $91,000. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John Kristofer Galashan sold 3,006,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $32.51, for a total value of $97,728,311.00. Following the completion of the transaction, the director owned 13,236,283 shares in the company, valued at $430,311,560.33. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bahram Akradi sold 438,257 shares of Life Time Group stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $45.03, for a total value of $19,734,712.71. Following the sale, the chief executive officer owned 3,615,086 shares in the company, valued at $162,787,322.58. This represents a 10.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,346,029 shares of company stock worth $396,108,368 over the last quarter. Company insiders own 13.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their price target on Life Time Group from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Zacks Research raised Life Time Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Life Time Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. Mizuho lifted their target price on shares of Life Time Group from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, KeyCorp upped their price target on shares of Life Time Group from $40.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $53.77.

Check Out Our Latest Research Report on LTH

Life Time Group Price Performance

Shares of NYSE LTH opened at $45.15 on Monday. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $47.24. The stock has a market capitalization of $10.09 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.66 and a beta of 1.50. The company’s 50-day moving average is $40.78 and its 200 day moving average is $33.09. 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 (NYSE:LTHGet Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.11. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%.The business had revenue of $866.00 million for the quarter, compared to analysts’ expectations of $845.75 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Life Time Group Holdings, Inc. will post 1.57 earnings per share for the current year.

About Life Time Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Life Time Group (NYSE:LTH)

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