Norges Bank Makes New $49.23 Million Investment in Life Time Group Holdings, Inc. $LTH

Norges Bank purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,852,057 shares of the company’s stock, valued at approximately $49,228,000. Norges Bank owned about 0.84% of Life Time Group as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LTH. GAMMA Investing LLC lifted its holdings in Life Time Group by 144.5% during the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock valued at $32,000 after purchasing an additional 721 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Life Time Group in the third quarter worth $40,000. EverSource Wealth Advisors LLC increased its stake in shares of 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 in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Life Time Group by 74.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company’s stock valued at $76,000 after purchasing an additional 1,225 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Life Time Group by 19.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,222 shares of the company’s stock valued at $117,000 after buying an additional 693 shares in the last quarter. Institutional investors own 79.40% of the company’s stock.

Life Time Group Stock Down 0.2%

NYSE:LTH opened at $32.34 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. Life Time Group Holdings, Inc. has a 1-year low of $24.14 and a 1-year high of $35.33. The company has a 50-day moving average of $29.86 and a 200 day moving average of $28.19. The firm has a market cap of $7.20 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.55.

Life Time Group (NYSE:LTH) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The firm had revenue of $788.70 million during the quarter, compared to analyst estimates of $787.65 million. During the same period in the previous year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Life Time Group Holdings, Inc. will post 1.47 EPS for the current fiscal year.

Insider Activity

In other Life Time Group news, Director John G. Danhakl sold 4,991,749 shares of the company’s 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 $157,040,423.54. Following the transaction, the director owned 16,242,383 shares in the company, valued at approximately $510,985,369.18. This represents a 23.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Kristofer Galashan sold 4,991,749 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $31.46, for a total value of $157,040,423.54. Following the completion of the transaction, the director owned 16,242,383 shares of the company’s stock, valued at approximately $510,985,369.18. The trade was a 23.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,846,581 shares of company stock worth $853,539,242 over the last 90 days. 13.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LTH has been the topic of several research analyst reports. UBS Group restated a “buy” rating and issued a $43.00 price objective on shares of Life Time Group in a research report on Thursday, March 12th. Morgan Stanley increased their target price 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 boosted their price target on Life Time Group from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Mizuho boosted their target price 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, Jefferies Financial Group reaffirmed a “buy” rating and set a $41.00 price target on shares of Life Time Group in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Life Time Group presently has an average rating of “Moderate Buy” and a consensus target price of $40.30.

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.