Needham Investment Management LLC Purchases Shares of 115,000 Life Time Group Holdings, Inc. $LTH

Needham Investment Management LLC purchased a new position in Life Time Group Holdings, Inc. (NYSE:LTH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 115,000 shares of the company’s stock, valued at approximately $3,057,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LTH. GAMMA Investing LLC lifted its stake in shares of Life Time Group by 144.5% during the 4th quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock valued at $32,000 after buying an additional 721 shares in the last quarter. Wexford Capital LP bought a new position in shares of Life Time Group during the 3rd quarter valued at about $40,000. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 1,002 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Life Time Group by 74.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company’s stock valued at $76,000 after buying an additional 1,225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Life Time Group by 13.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,119 shares of the company’s stock valued at $163,000 after buying an additional 717 shares during the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

Life Time Group Stock Down 0.5%

Shares of LTH opened at $34.14 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $30.73 and a 200 day moving average of $28.53. The company has a market cap of $7.60 billion, a PE ratio of 19.97, a P/E/G ratio of 1.42 and a beta of 1.55. Life Time Group Holdings, Inc. has a 52-week low of $24.14 and a 52-week high of $35.33.

Life Time Group (NYSE:LTH) last announced its earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business 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 business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, sell-side analysts expect that Life Time Group Holdings, Inc. will post 1.48 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on LTH shares. 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. Zacks Research lowered shares of Life Time Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Mizuho increased their price objective 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. Royal Bank Of Canada boosted their target price on shares of Life Time Group from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company upped their target price on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Insider Buying and Selling

In related news, EVP Parham Javaheri sold 62,900 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $31.80, for a total value of $2,000,220.00. Following the sale, the executive vice president directly owned 246,574 shares of the company’s stock, valued at $7,841,053.20. This represents a 20.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John G. Danhakl sold 2,208,580 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the completion of the sale, the director directly owned 11,027,703 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 27,876,110 shares of company stock worth $854,609,979 over the last three months. 13.30% of the stock is currently owned by company insiders.

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.