Life Time Group (NYSE:LTH) Announces Earnings Results

Life Time Group (NYSE:LTH) issued its quarterly earnings results on Tuesday. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08, FiscalAI reports. Life Time Group had a net margin of 12.51% and a return on equity of 10.20%. The business had revenue of $788.70 million for the quarter, compared to analyst estimates of $787.65 million. During the same quarter in the prior year, the business posted $0.39 EPS. Life Time Group’s revenue for the quarter was up 11.7% compared to the same quarter last year.

Life Time Group Stock Performance

LTH opened at $26.20 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.13 and a beta of 1.50. Life Time Group has a 52-week low of $24.14 and a 52-week high of $34.99. The firm’s fifty day simple moving average is $26.94 and its two-hundred day simple moving average is $26.98.

Insider Activity

In other news, EVP Parham Javaheri sold 11,060 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $26.46, for a total value of $292,647.60. Following the transaction, the executive vice president directly owned 315,175 shares of the company’s stock, valued at approximately $8,339,530.50. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Erik Weaver sold 1,329 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $25.73, for a total transaction of $34,195.17. Following the completion of the transaction, the chief financial officer directly owned 136,166 shares in the company, valued at approximately $3,503,551.18. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in shares of Life Time Group by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after buying an additional 2,091,712 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Life Time Group by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,021,829 shares of the company’s stock valued at $186,646,000 after acquiring an additional 1,061,839 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Life Time Group by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock valued at $155,852,000 after acquiring an additional 34,964 shares during the last quarter. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 2,156,033 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Life Time Group by 11.7% in the fourth quarter. State Street Corp now owns 3,272,110 shares of the company’s stock valued at $86,973,000 after purchasing an additional 342,750 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LTH has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Life Time Group in a research note on Wednesday, March 11th. They set an “overweight” rating and a $37.00 price target on the stock. KeyCorp initiated coverage on shares of Life Time Group in a research note on Thursday, March 12th. They set an “overweight” rating and a $40.00 price target on the stock. Zacks Research upgraded shares of Life Time Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Guggenheim restated a “buy” rating and set a $36.00 price target on shares of Life Time Group in a research note on Friday, January 23rd. Finally, Northland Securities set a $42.00 price target on shares of Life Time Group in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.13.

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.