The Manufacturers Life Insurance Company Increases Stock Position in Life Time Group Holdings, Inc. $LTH

The Manufacturers Life Insurance Company grew its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 38.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,745,768 shares of the company’s stock after purchasing an additional 487,478 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.78% of Life Time Group worth $47,031,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Life Time Group by 144.5% in the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock valued at $32,000 after buying an additional 721 shares in the last quarter. Wexford Capital LP purchased a new position in Life Time Group in the third quarter worth $40,000. EverSource Wealth Advisors LLC raised its position in Life Time Group by 201.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 1,002 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Life Time Group in the fourth quarter valued at $73,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Life Time Group by 74.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company’s stock valued at $76,000 after acquiring an additional 1,225 shares during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Life Time Group in a research note on Wednesday, July 22nd. Northland Securities boosted their price objective on shares of Life Time Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Wells Fargo & Company upped their target price on shares of Life Time Group from $38.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Oppenheimer increased their target price on shares of Life Time Group from $43.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $47.25.

Life Time Group Trading Down 2.7%

Shares of LTH stock opened at $44.45 on Friday. The stock has a market cap of $9.89 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.83 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. Life Time Group Holdings, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $47.24. The business has a fifty day simple moving average of $38.20 and a 200-day simple moving average of $31.81.

Life Time Group (NYSE:LTH) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.37 by $0.11. The business had revenue of $866.00 million for the quarter, compared to analyst estimates of $845.75 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. On average, analysts forecast that Life Time Group Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Life Time Group news, Director John Kristofer Galashan sold 4,991,749 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $31.46, for a total value of $157,040,423.54. Following the sale, the director owned 16,242,383 shares of the company’s stock, valued at $510,985,369.18. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Partners Group Private Equity sold 747,178 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $23,506,219.88. Following the completion of the sale, the insider owned 2,431,203 shares in the company, valued at $76,485,646.38. This represents a 23.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,943,861 shares of company stock worth $857,228,555. Insiders own 13.30% 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.