Maryland State Retirement & Pension System Makes New $596,000 Investment in Life Time Group Holdings, Inc. $LTH

Maryland State Retirement & Pension System purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,138 shares of the company’s stock, valued at approximately $596,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Life Time Group by 129.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock worth $160,868,000 after purchasing an additional 3,286,229 shares during the period. Bank of America Corp DE increased its holdings 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 valued at $117,797,000 after buying an additional 2,156,033 shares during the last quarter. Ameriprise Financial Inc. increased its holdings 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 valued at $216,644,000 after buying an additional 2,091,712 shares during the last quarter. Norges Bank bought a new position in Life Time Group in the fourth quarter worth approximately $49,228,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Life Time Group by 2,328.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock worth $56,175,000 after acquiring an additional 1,775,837 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Insider Buying and Selling at Life Time Group

In other news, Director Jimena Almendares sold 40,589 shares of Life Time Group stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $33.59, for a total transaction of $1,363,384.51. Following the sale, the director owned 36,983 shares in the company, valued at $1,242,258.97. This trade represents a 52.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 67,751 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $38.65, for a total transaction of $2,618,576.15. Following the completion of the transaction, the executive vice president directly owned 138,351 shares in the company, valued at $5,347,266.15. This trade represents a 32.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 27,943,861 shares of company stock worth $857,228,555. Insiders own 13.30% of the company’s stock.

Wall Street Analysts Forecast Growth

LTH has been the subject of several analyst reports. Northland Securities upped their price objective on Life Time Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Morgan Stanley lifted their target price on Life Time Group from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Zacks Research lowered Life Time Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Jefferies Financial Group upped their price target on Life Time Group from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada raised their price objective on Life Time Group from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Life Time Group has a consensus rating of “Moderate Buy” and an average price target of $44.73.

Life Time Group Stock Performance

NYSE LTH opened at $42.87 on Friday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $36.16 and a 200-day moving average price of $30.68. Life Time Group Holdings, Inc. has a twelve month low of $24.14 and a twelve month high of $43.02.

Life Time Group (NYSE:LTH) last issued its earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The company had revenue of $788.70 million for the quarter, compared to the consensus estimate of $787.65 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts predict that Life Time Group Holdings, Inc. will post 1.48 EPS for the current fiscal year.

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.