Needham Investment Management LLC Makes New Investment in Life Time Group Holdings, Inc. $LTH

Needham Investment Management LLC purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 115,000 shares of the company’s stock, valued at approximately $3,057,000. Needham Investment Management LLC owned 0.05% of Life Time Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Life Time Group by 144.5% in the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock worth $32,000 after purchasing an additional 721 shares in the last quarter. Wexford Capital LP bought a new stake in Life Time Group during the third quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 1,002 shares during the period. Nisa Investment Advisors LLC grew 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 worth $76,000 after purchasing an additional 1,225 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Life Time Group by 13.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,119 shares of the company’s stock valued at $163,000 after purchasing an additional 717 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Insider Activity

In other news, Director Jimena Almendares sold 40,589 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $33.59, for a total value of $1,363,384.51. Following the transaction, the director owned 36,983 shares in the company, valued at $1,242,258.97. This represents a 52.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Partners Group Private Equity sold 329,921 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $28.60, for a total transaction of $9,435,740.60. Following the completion of the transaction, the insider owned 1,651,322 shares in the company, valued at $47,227,809.20. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 27,876,110 shares of company stock worth $854,609,979. Company insiders own 13.30% of the company’s stock.

Life Time Group Price Performance

Shares of LTH opened at $34.14 on Tuesday. The firm has a fifty day simple moving average of $30.73 and a two-hundred day simple moving average of $28.53. The firm has a market cap of $7.60 billion, a PE ratio of 19.97, a P/E/G ratio of 1.42 and a beta of 1.55. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. Life Time Group Holdings, Inc. has a 1-year low of $24.14 and a 1-year high of $35.33.

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

Analysts Set New Price Targets

A number of analysts have recently commented on LTH shares. Morgan Stanley boosted their price target on Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Royal Bank Of Canada lifted their price objective on Life Time Group from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Zacks Research downgraded Life Time Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Mizuho lifted their price target on Life Time Group from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Life Time Group presently has an average rating of “Moderate Buy” and an average price target of $40.80.

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.