Life Time Group (NYSE:LTH) Rating Lowered to “Hold” at Zacks Research

Life Time Group (NYSE:LTH) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Wells Fargo & Company lifted their price objective on Life Time Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Mizuho lifted their price objective on Life Time Group from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. UBS Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Life Time Group in a research note on Thursday, March 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Life Time Group in a research note on Tuesday, May 5th. Finally, KeyCorp initiated coverage on Life Time Group in a research note on Thursday, March 12th. They issued an “overweight” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Life Time Group Price Performance

Life Time Group stock opened at $33.24 on Monday. The stock’s 50 day moving average is $28.84 and its 200 day moving average is $27.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. The firm has a market cap of $7.40 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.34 and a beta of 1.50. Life Time Group has a one year low of $24.14 and a one year high of $35.33.

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

Insiders Place Their Bets

In other Life Time Group news, Director John Kristofer Galashan sold 4,991,749 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John G. Danhakl sold 4,991,749 shares of the business’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 value of $157,040,423.54. Following the completion of the transaction, the director directly owned 16,242,383 shares in the company, valued at approximately $510,985,369.18. This trade represents a 23.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,100,829 shares of company stock valued at $717,806,921 in the last ninety days. 13.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Life Time Group

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Life Time Group by 144.5% during 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 during the period. Wexford Capital LP acquired a new position in shares of Life Time Group during the third quarter worth approximately $40,000. EverSource Wealth Advisors LLC raised its position in shares of Life Time Group by 201.6% during 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. Kemnay Advisory Services Inc. acquired a new position in shares of Life Time Group during the fourth quarter worth approximately $73,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Life Time Group by 74.8% during 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. 79.40% of the stock is owned by institutional investors and hedge funds.

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.