Point72 Asset Management L.P. Acquires 513,033 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Point72 Asset Management L.P. lifted its holdings in Life Time Group Holdings, Inc. (NYSE:LTH) by 135.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 890,657 shares of the company’s stock after acquiring an additional 513,033 shares during the period. Point72 Asset Management L.P. owned approximately 0.43% of Life Time Group worth $21,750,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LTH. Farther Finance Advisors LLC lifted its position in Life Time Group by 105.8% during the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after purchasing an additional 906 shares during the period. Amalgamated Bank lifted its holdings in shares of Life Time Group by 38.2% during the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock worth $38,000 after acquiring an additional 563 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Life Time Group during the 3rd quarter worth approximately $60,000. Blue Trust Inc. increased its stake in Life Time Group by 345.5% in the third quarter. Blue Trust Inc. now owns 2,940 shares of the company’s stock valued at $72,000 after acquiring an additional 2,280 shares during the last quarter. Finally, Dnca Finance acquired a new position in Life Time Group during the second quarter valued at approximately $72,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Life Time Group Price Performance

LTH stock opened at $24.42 on Friday. The company has a fifty day moving average price of $24.34 and a 200-day moving average price of $22.03. Life Time Group Holdings, Inc. has a 52-week low of $11.89 and a 52-week high of $27.11. The company has a market capitalization of $5.05 billion, a P/E ratio of 35.38, a PEG ratio of 1.55 and a beta of 1.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59.

Life Time Group (NYSE:LTH) last announced its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. Life Time Group’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. As a group, equities analysts expect that Life Time Group Holdings, Inc. will post 0.56 EPS for the current year.

Insider Activity

In related news, CFO Erik Weaver sold 4,662 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total value of $120,652.56. Following the completion of the sale, the chief financial officer now directly owns 75,866 shares of the company’s stock, valued at $1,963,412.08. The trade was a 5.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $24.57, for a total value of $4,127,760.00. Following the sale, the executive vice president now owns 243,938 shares of the company’s stock, valued at approximately $5,993,556.66. This represents a 40.78 % decrease in their position. The disclosure for this sale can be found here. 12.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI began coverage on Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 target price on the stock. Northland Securities lifted their target price on Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Bank of America increased their target price on shares of Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Morgan Stanley lifted their price target on shares of Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on shares of Life Time Group from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.78.

About Life Time Group

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.