Leonard Green & Partners L.P. Sells 4,991,976 Shares of Life Time Group Holdings, Inc. $LTH

Leonard Green & Partners L.P. reduced its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 16.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,906,061 shares of the company’s stock after selling 4,991,976 shares during the quarter. Life Time Group accounts for approximately 26.2% of Leonard Green & Partners L.P.’s investment portfolio, making the stock its 2nd biggest holding. Leonard Green & Partners L.P. owned approximately 0.11% of Life Time Group worth $687,407,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Voya Investment Management LLC lifted its position in Life Time Group by 2,398.6% during the 3rd quarter. Voya Investment Management LLC now owns 1,065,997 shares of the company’s stock worth $29,422,000 after acquiring an additional 1,023,333 shares during the period. Vanguard Group Inc. grew its stake in Life Time Group by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,500,274 shares of the company’s stock valued at $372,608,000 after purchasing an additional 374,833 shares during the last quarter. ABN Amro Investment Solutions acquired a new position in shares of Life Time Group in the third quarter valued at about $2,535,000. Fisher Asset Management LLC purchased a new position in shares of Life Time Group in the second quarter worth about $43,473,000. Finally, TD Asset Management Inc raised its stake in shares of Life Time Group by 158.1% in the third quarter. TD Asset Management Inc now owns 76,436 shares of the company’s stock worth $2,110,000 after purchasing an additional 46,822 shares during the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Life Time Group Stock Down 0.4%

Shares of LTH opened at $26.18 on Tuesday. Life Time Group Holdings, Inc. has a 52 week low of $24.14 and a 52 week high of $34.99. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.18 and a beta of 1.69. The stock’s 50-day moving average price is $28.01 and its 200-day moving average price is $27.12.

Life Time Group (NYSE:LTH) last posted its earnings results on Tuesday, February 24th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Life Time Group had a return on equity of 10.20% and a net margin of 12.51%.The firm had revenue of $745.10 million for the quarter, compared to analyst estimates of $740.09 million. During the same period last year, the company earned $0.27 earnings per share. Life Time Group’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts predict that Life Time Group Holdings, Inc. will post 0.74 EPS for the current year.

Insider Transactions at Life Time Group

In related news, EVP Ritadhwaja Jebens Singh sold 5,880 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.31, for a total transaction of $178,222.80. Following the sale, the executive vice president directly owned 102,144 shares of the company’s stock, valued at approximately $3,095,984.64. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Parham Javaheri sold 11,060 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $26.46, for a total transaction of $292,647.60. Following the sale, the executive vice president owned 315,175 shares in the company, valued at approximately $8,339,530.50. This represents a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,850 shares of company stock valued at $909,324 in the last 90 days. 8.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LTH has been the topic of a number of recent research reports. Zacks Research upgraded Life Time Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Guggenheim reissued a “buy” rating and set a $36.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. KeyCorp assumed coverage on shares of Life Time Group in a research note on Thursday, March 12th. They set an “overweight” rating and a $40.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Life Time Group in a report on Wednesday, March 11th. They issued an “overweight” rating and a $37.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Life Time Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Life Time Group Company Profile

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.