Life Time Group (NYSE:LTH) Issues Earnings Results

Life Time Group (NYSE:LTH) announced its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03, FiscalAI reports. The firm had revenue of $745.10 million during the quarter, compared to analysts’ expectations of $740.09 million. Life Time Group had a net margin of 9.91% and a return on equity of 9.75%.

Life Time Group Price Performance

Shares of NYSE LTH opened at $28.41 on Tuesday. The company has a market capitalization of $6.26 billion, a PE ratio of 22.02, a PEG ratio of 0.76 and a beta of 1.68. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $28.06 and its 200-day moving average price is $27.28. Life Time Group has a twelve month low of $24.14 and a twelve month high of $34.99.

Analyst Upgrades and Downgrades

LTH has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating and set a $36.00 target price on shares of Life Time Group in a research note on Friday, January 23rd. Northland Securities set a $42.00 price target on Life Time Group in a report on Friday, January 23rd. Morgan Stanley boosted their price objective on Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a research report on Thursday, January 22nd. Finally, Zacks Research cut Life Time Group from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.85.

Insider Activity

In related news, EVP Eric J. Buss sold 74,487 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $28.05, for a total transaction of $2,089,360.35. Following the completion of the sale, the executive vice president owned 380,683 shares in the company, valued at approximately $10,678,158.15. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ritadhwaja Jebens Singh sold 5,880 shares of Life Time Group stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.31, for a total transaction of $178,222.80. Following the completion of the sale, the executive vice president directly owned 102,144 shares in the company, valued at approximately $3,095,984.64. This represents a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 256,670 shares of company stock valued at $7,234,567 in the last ninety days. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Life Time Group

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in Life Time Group by 41.3% during the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after purchasing an additional 2,091,712 shares during the period. Dimensional Fund Advisors LP raised its stake in Life Time Group by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,021,829 shares of the company’s stock valued at $186,646,000 after purchasing an additional 1,061,839 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Life Time Group by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock valued at $155,852,000 after buying an additional 34,964 shares in the last quarter. Bank of America Corp DE lifted its stake in Life Time Group by 102.1% during the third quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock worth $117,797,000 after purchasing an additional 2,156,033 shares during the last quarter. Finally, State Street Corp lifted its position in Life Time Group by 11.7% in the 4th quarter. State Street Corp now owns 3,272,110 shares of the company’s stock worth $86,973,000 after buying an additional 342,750 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 (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.