Wedge Capital Management L L P NC Increases Stock Holdings in Life Time Group Holdings, Inc. $LTH

Wedge Capital Management L L P NC boosted its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 9.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,295,970 shares of the company’s stock after buying an additional 109,895 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Life Time Group were worth $34,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LTH. Wellington Management Group LLP boosted its holdings in Life Time Group by 129.3% in the third quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock worth $160,868,000 after acquiring an additional 3,286,229 shares in the last quarter. Bank of America Corp DE raised its position in shares of Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after purchasing an additional 2,156,033 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Life Time Group by 41.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock valued at $216,644,000 after purchasing an additional 2,091,712 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Life Time Group by 2,328.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock worth $56,175,000 after purchasing an additional 1,775,837 shares in the last quarter. Finally, Norges Bank acquired a new stake in Life Time Group in the 2nd quarter worth approximately $50,999,000. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LTH. Zacks Research upgraded shares of Life Time Group from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. UBS Group reiterated a “buy” rating and set a $43.00 price objective on shares of Life Time Group in a research note on Thursday, March 12th. Jefferies Financial Group started coverage on shares of Life Time Group in a report on Tuesday, March 10th. They set a “buy” rating and a $40.00 price objective on the stock. Morgan Stanley upped their target price on Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $36.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.13.

Insider Activity at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 1,493 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $29.90, for a total value of $44,640.70. Following the sale, the chief financial officer directly owned 77,771 shares of the company’s stock, valued at approximately $2,325,352.90. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $29.75, for a total value of $359,618.00. Following the sale, the executive vice president directly owned 110,967 shares in the company, valued at $3,301,268.25. This represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,850 shares of company stock worth $909,324 over the last three months. Company insiders own 13.30% of the company’s stock.

Life Time Group Price Performance

Shares of NYSE:LTH opened at $25.97 on Friday. Life Time Group Holdings, Inc. has a twelve month low of $24.14 and a twelve month high of $34.99. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.76 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.69. The company’s 50 day moving average is $27.77 and its 200 day moving average is $27.00.

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

Life Time Group 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.