Envestnet Asset Management Inc. Purchases 182,489 Shares of Life Time Group Holdings, Inc. $LTH

Envestnet Asset Management Inc. increased its position in Life Time Group Holdings, Inc. (NYSE:LTH) by 53.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 523,926 shares of the company’s stock after buying an additional 182,489 shares during the period. Envestnet Asset Management Inc.’s holdings in Life Time Group were worth $15,891,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. bought a new stake in Life Time Group in the 1st quarter worth approximately $36,000. Nisa Investment Advisors LLC grew its holdings in shares of Life Time Group by 98.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company’s stock valued at $46,000 after purchasing an additional 749 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Life Time Group by 10,150.0% in the second quarter. IFP Advisors Inc now owns 1,640 shares of the company’s stock valued at $51,000 after purchasing an additional 1,624 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Life Time Group by 226.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $53,000 after purchasing an additional 1,214 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Life Time Group during the first quarter valued at $74,000. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Parham Javaheri sold 9,375 shares of Life Time Group stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $28.05, for a total value of $262,968.75. Following the completion of the sale, the executive vice president directly owned 240,151 shares in the company, valued at $6,736,235.55. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Erik Weaver sold 4,846 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $25.10, for a total transaction of $121,634.60. Following the completion of the sale, the chief financial officer directly owned 81,765 shares of the company’s stock, valued at approximately $2,052,301.50. This trade represents a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 10,743,880 shares of company stock worth $311,008,231. 8.70% of the stock is owned by company insiders.

Life Time Group Stock Performance

Shares of NYSE:LTH opened at $25.03 on Friday. The firm’s 50 day simple moving average is $26.92 and its 200-day simple moving average is $28.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.53 and a current ratio of 0.67. Life Time Group Holdings, Inc. has a one year low of $21.49 and a one year high of $34.99. The firm has a market cap of $5.51 billion, a PE ratio of 19.40 and a beta of 1.68.

Life Time Group (NYSE:LTH) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The company had revenue of $761.47 million for the quarter, compared to analysts’ expectations of $752.33 million. Life Time Group had a return on equity of 9.75% and a net margin of 9.91%.Life Time Group’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts predict that Life Time Group Holdings, Inc. will post 0.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Life Time Group in a research note on Wednesday, October 8th. Wall Street Zen lowered Life Time Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group set a $48.00 price objective on Life Time Group in a research report on Friday, October 17th. Finally, Morgan Stanley raised Life Time Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $34.00 to $39.00 in a research note on Monday, October 27th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

About Life Time Group

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.