Life Time Group (NYSE:LTH) CFO Sells $230,148.99 in Stock

Life Time Group Holdings, Inc. (NYSE:LTH) CFO Erik Weaver sold 5,787 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $39.77, for a total transaction of $230,148.99. Following the sale, the chief financial officer owned 83,131 shares of the company’s stock, valued at approximately $3,306,119.87. This represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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.

Erik Weaver also recently made the following trade(s):

• On Friday, July 31st, Erik Weaver sold 47,748 shares of Life Time Group stock. The stock was sold at an average price of $44.80, for a total value of $2,139,110.40.

Life Time Group Stock Down 0.3%

Shares of Life Time Group stock traded down $0.11 on Friday, reaching $40.45. The company’s stock had a trading volume of 2,555,097 shares, compared to its average volume of 3,608,453. Life Time Group Holdings, Inc. has a 52 week low of $24.14 and a 52 week high of $47.24. The firm’s fifty day simple moving average is $41.99 and its two-hundred day simple moving average is $37.48. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.46 and a beta of 1.49.

Life Time Group (NYSE:LTH) last posted its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $866.00 million for the quarter, compared to the consensus estimate of $845.75 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Life Time Group’s revenue was up 13.7% on a year-over-year basis. Equities analysts anticipate that Life Time Group Holdings, Inc. will post 1.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on LTH. Morgan Stanley raised their price target on Life Time Group from $39.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Oppenheimer upped their price objective on Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Zacks Research raised Life Time Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of Life Time Group in a research report on Wednesday, September 23rd. Finally, The Goldman Sachs Group began coverage on Life Time Group in a research note on Monday, August 3rd. They set a “buy” rating and a $53.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $55.31.

Institutional Trading of Life Time Group

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Life Time Group by 15.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock valued at $217,929,000 after purchasing an additional 1,068,208 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Life Time Group by 38.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,745,768 shares of the company’s stock worth $47,031,000 after buying an additional 487,478 shares in the last quarter. Ranger Investment Management L.P. bought a new position in Life Time Group during the second quarter valued at approximately $16,302,000. Principal Financial Group Inc. boosted its stake in Life Time Group by 18.1% during the first quarter. Principal Financial Group Inc. now owns 2,589,462 shares of the company’s stock valued at $69,760,000 after buying an additional 397,248 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Life Time Group by 79.0% during the first quarter. Bank of New York Mellon Corp now owns 862,524 shares of the company’s stock valued at $23,236,000 after buying an additional 380,610 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

About Life Time Group

Life Time Group Holdings, Inc operates a network of athletic country clubs and wellness centers under the Life Time brand. Its facilities offer fitness equipment and training, group exercise classes, indoor and outdoor pools, sports courts, childcare, spas, salons, cafés and other services designed to support health, wellness and an active lifestyle.

The company also provides personal training, performance programs, nutrition services and organized athletic activities, including events and leagues for sports such as pickleball and tennis.