Life Time Group (NYSE:LTH) Trading Down 5.9% – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH)’s share price dropped 5.9% on Wednesday . The stock traded as low as $26.02 and last traded at $26.1960. Approximately 939,300 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,225,325 shares. The stock had previously closed at $27.85.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim restated a “buy” rating and issued a $36.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. Morgan Stanley boosted their target price on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research downgraded Life Time Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Northland Securities set a $42.00 price objective on shares of Life Time Group in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.80.

Life Time Group Stock Performance

The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.68 and a beta of 1.68. The firm’s 50 day moving average is $28.14 and its 200-day moving average is $27.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.63.

Life Time Group (NYSE:LTH) last posted its earnings results on Tuesday, February 24th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Life Time Group had a return on equity of 10.20% and a net margin of 12.51%.The company had revenue of $745.10 million for the quarter, compared to analyst estimates of $740.09 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Life Time Group news, CFO Erik Weaver sold 1,493 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $29.90, for a total transaction of $44,640.70. Following the transaction, the chief financial officer owned 77,771 shares in the company, valued at $2,325,352.90. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 5,880 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.31, for a total transaction of $178,222.80. Following the completion of the sale, the executive vice president owned 102,144 shares of the company’s stock, valued at $3,095,984.64. The trade was a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,461 shares of company stock valued at $582,482 in the last ninety days. Company insiders own 8.70% of the company’s stock.

Institutional Trading of Life Time Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Life Time Group by 144.5% in the 4th quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock valued at $32,000 after buying an additional 721 shares during the period. Wexford Capital LP acquired a new position in Life Time Group in the third quarter worth about $40,000. EverSource Wealth Advisors LLC lifted its stake in Life Time Group by 201.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 1,002 shares during the period. Nisa Investment Advisors LLC lifted its stake in Life Time Group by 98.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company’s stock worth $46,000 after purchasing an additional 749 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Life Time Group by 2,741.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,705 shares of the company’s stock valued at $52,000 after purchasing an additional 1,645 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

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.