Life Time Group Holdings, Inc. $LTH Holdings Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 50.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,930,046 shares of the company’s stock after selling 1,951,520 shares during the period. JPMorgan Chase & Co. owned about 0.88% of Life Time Group worth $53,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LTH. Wexford Capital LP purchased a new stake in shares of Life Time Group during the third quarter worth $40,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $45,000 after purchasing an additional 1,002 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Life Time Group by 2,741.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,705 shares of the company’s stock worth $52,000 after purchasing an additional 1,645 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Life Time Group during the 3rd quarter worth about $69,000. Finally, SBI Securities Co. Ltd. raised 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 worth $117,000 after purchasing an additional 693 shares in the last quarter. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ritadhwaja Jebens Singh sold 5,880 shares of Life Time Group stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.31, for a total value of $178,222.80. Following the transaction, the executive vice president directly owned 102,144 shares in the company, valued at approximately $3,095,984.64. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Parham Javaheri sold 11,060 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was 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 $8,339,530.50. This represents a 3.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 31,850 shares of company stock valued at $909,324. 8.70% of the stock is owned by insiders.

Life Time Group Price Performance

Shares of Life Time Group stock opened at $25.86 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $27.85 and a 200-day simple moving average of $27.08. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.15 and a beta of 1.69. Life Time Group Holdings, Inc. has a 1-year low of $24.14 and a 1-year high of $34.99.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LTH shares. Wells Fargo & Company started coverage on Life Time Group in a research note on Wednesday, March 11th. They issued an “overweight” rating and a $37.00 price target for the company. Northland Securities set a $42.00 price objective on shares of Life Time Group in a research report on Friday, January 23rd. KeyCorp assumed coverage on shares of Life Time Group in a research note on Thursday, March 12th. They issued an “overweight” rating and a $40.00 target price for the company. Morgan Stanley boosted their target price on shares of Life Time Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Life Time Group currently has a consensus rating of “Moderate Buy” and an average price target 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.