Norges Bank Acquires Shares of 1,852,057 Life Time Group Holdings, Inc. $LTH

Norges Bank acquired a new position in shares of Life Time Group Holdings, Inc. (NYSE:LTH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,852,057 shares of the company’s stock, valued at approximately $49,228,000.

Several other institutional investors have also modified their holdings of LTH. Geode Capital Management LLC increased its holdings in shares of Life Time Group by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 3,519,811 shares of the company’s stock worth $93,572,000 after buying an additional 207,822 shares during the last quarter. Harbour Investments Inc. grew its position in Life Time Group by 8.8% in the fourth quarter. Harbour Investments Inc. now owns 6,387 shares of the company’s stock worth $170,000 after acquiring an additional 516 shares during the period. PNC Financial Services Group Inc. grew its position in Life Time Group by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,292 shares of the company’s stock worth $274,000 after acquiring an additional 834 shares during the period. Handelsbanken Fonder AB increased its stake in Life Time Group by 29.1% during the fourth quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $707,000 after acquiring an additional 6,000 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Life Time Group by 18.9% in the fourth quarter. ProShare Advisors LLC now owns 27,625 shares of the company’s stock valued at $734,000 after purchasing an additional 4,397 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Life Time Group Trading Down 0.2%

LTH opened at $32.34 on Monday. Life Time Group Holdings, Inc. has a one year low of $24.14 and a one year high of $35.33. The company has a market cap of $7.20 billion, a P/E ratio of 18.91, a PEG ratio of 1.35 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.53. The business’s 50-day simple moving average is $29.86 and its 200-day simple moving average is $28.19.

Life Time Group (NYSE:LTH) last posted its earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, beating 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 net margin of 12.56% and a return on equity of 10.10%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 1.47 EPS for the current fiscal year.

Insider Activity

In related news, CFO Erik Weaver sold 22,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $32.69, for a total transaction of $719,180.00. Following the completion of the sale, the chief financial officer directly owned 114,166 shares of the company’s stock, valued at $3,732,086.54. This trade represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Partners Group Private Equity sold 329,921 shares of the stock in a transaction dated 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 transaction, the insider directly owned 1,651,322 shares of the company’s stock, valued at $47,227,809.20. This represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,846,581 shares of company stock worth $853,539,242 over the last 90 days. 13.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LTH has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $41.00 price objective on shares of Life Time Group in a research report on Tuesday, May 5th. Morgan Stanley increased their target price on shares of Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Mizuho lifted their price target on shares of Life Time Group from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Life Time Group from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Life Time Group Profile

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.