Life Time Group (NYSE:LTH) Shares Down 5.4% – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH)’s share price fell 5.4% during trading on Tuesday . The company traded as low as $37.57 and last traded at $37.7380. Approximately 1,227,404 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 2,932,738 shares. The stock had previously closed at $39.91.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LTH. Zacks Research upgraded shares of Life Time Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Life Time Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. The Goldman Sachs Group began coverage on Life Time Group in a research note on Monday, August 3rd. They issued a “buy” rating and a $53.00 target price for the company. Oppenheimer increased their price objective on Life Time Group from $43.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Northland Securities set a $57.00 price objective on Life Time Group in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $54.85.

Life Time Group Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $43.28 and a 200 day moving average price of $35.70. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.47 and a beta of 1.48.

Life Time Group (NYSE:LTH) last released its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The business had revenue of $866.00 million during the quarter, compared to analysts’ expectations of $845.75 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 1.59 earnings per share for the current year.

Insider Activity

In other news, EVP Ritadhwaja Singh sold 154,912 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $42.00, for a total value of $6,506,304.00. Following the transaction, the executive vice president owned 138,351 shares of the company’s stock, valued at $5,810,742. This represents a 52.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Galashan sold 2,879,154 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total transaction of $126,106,945.20. Following the transaction, the director directly owned 3,029,450 shares of the company’s stock, valued at approximately $132,689,910. This trade represents a 48.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,033,814 shares of company stock valued at $308,650,511 in the last 90 days. 13.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LTH. Norges Bank purchased a new position in Life Time Group in the fourth quarter valued at $49,228,000. Dimensional Fund Advisors LP grew its position in Life Time Group by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock worth $217,929,000 after purchasing an additional 1,068,208 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Life Time Group by 38.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,745,768 shares of the company’s stock worth $47,031,000 after purchasing an additional 487,478 shares during the last quarter. Ranger Investment Management L.P. acquired a new stake in Life Time Group in the second quarter valued at about $16,302,000. Finally, Principal Financial Group Inc. boosted its position in shares of Life Time Group by 18.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,589,462 shares of the company’s stock worth $69,760,000 after purchasing an additional 397,248 shares in the last quarter. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

About Life Time Group

Life Time Group Holdings, Inc operates a network of athletic country clubs and wellness facilities in the United States and Canada. The company provides an integrated range of fitness, health, and lifestyle services designed for individuals and families.

Its clubs typically offer fitness equipment and classes, personal training, indoor and outdoor pools, courts for sports such as tennis and pickleball, childcare, spa services, cafes, and spaces for social and work-related activities. Life Time also provides digital fitness content, nutrition and wellness programs, recreational activities, and athletic events through its clubs and online platforms.

Founded in 1992, the company was originally known as Life Time Fitness before becoming Life Time Group Holdings.