Fifth Third Bancorp Takes $4.96 Million Position in Life Time Group Holdings, Inc. $LTH

Fifth Third Bancorp bought a new position in shares of Life Time Group Holdings, Inc. (NYSE:LTH) during the 1st quarter, HoldingsChannel.com reports. The fund bought 183,918 shares of the company’s stock, valued at approximately $4,955,000.

A number of other institutional investors also recently bought and sold shares of the business. U S Global Investors Inc. boosted its position in Life Time Group by 22.3% during the first quarter. U S Global Investors Inc. now owns 41,100 shares of the company’s stock worth $1,107,000 after purchasing an additional 7,500 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Life Time Group during the first quarter worth about $938,000. Abel Hall LLC purchased a new stake in Life Time Group during the 1st quarter valued at about $249,000. Louisiana State Employees Retirement System acquired a new stake in Life Time Group in the 1st quarter valued at about $1,818,000. Finally, OP Asset Management Ltd acquired a new stake in shares of Life Time Group in the first quarter valued at approximately $880,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Partners Group Private Equity sold 329,921 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $28.60, for a total value of $9,435,740.60. Following the completion of the transaction, the insider directly owned 1,651,322 shares of the company’s stock, valued at $47,227,809.20. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John G. Danhakl sold 2,208,580 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the completion of the transaction, the director directly owned 11,027,703 shares of the company’s stock, valued at $315,392,305.80. The trade was a 16.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,943,861 shares of company stock valued at $857,228,555. Corporate insiders own 13.30% of the company’s stock.

Life Time Group Price Performance

Shares of NYSE:LTH opened at $42.13 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.53. Life Time Group Holdings, Inc. has a one year low of $24.14 and a one year high of $43.40. The company has a 50-day simple moving average of $36.36 and a 200-day simple moving average of $30.76. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.77 and a beta of 1.51.

Life Time Group (NYSE:LTH) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.42 earnings per share (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 analysts’ expectations of $787.65 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. Life Time Group’s revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Life Time Group Holdings, Inc. will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Life Time Group from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Northland Securities raised their price objective on shares of Life Time Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Wells Fargo & Company boosted their target price on shares of Life Time Group from $38.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday. Guggenheim lifted their target price on Life Time Group from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $37.00 price target on shares of Life Time Group in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.73.

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.