Life Time Group Holdings, Inc. (NYSE:LTH – Get Rating)’s stock price was down 8.7% on Thursday after Morgan Stanley lowered their price target on the stock from $17.00 to $16.00. Morgan Stanley currently has an equal weight rating on the stock. Life Time Group traded as low as $13.96 and last traded at $14.14. Approximately 2,470 shares changed hands during trading, a decline of 99% from the average daily volume of 214,815 shares. The stock had previously closed at $15.49.
LTH has been the subject of several other research reports. Royal Bank of Canada raised their price objective on shares of Life Time Group from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company lowered shares of Life Time Group from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $15.00 to $13.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.
Insider Buying and Selling at Life Time Group
In related news, CEO Bahram Akradi purchased 23,072 shares of the stock in a transaction on Tuesday, June 14th. The shares were bought at an average price of $12.95 per share, for a total transaction of $298,782.40. Following the completion of the acquisition, the chief executive officer now directly owns 11,255,025 shares in the company, valued at approximately $145,752,573.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Life Time Group news, insider Retirement System Of T. Teacher purchased 4,671 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were purchased at an average price of $13.40 per share, for a total transaction of $62,591.40. Following the completion of the purchase, the insider now directly owns 5,204,671 shares of the company’s stock, valued at $69,742,591.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Bahram Akradi purchased 23,072 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were acquired at an average price of $12.95 per share, for a total transaction of $298,782.40. Following the purchase, the chief executive officer now directly owns 11,255,025 shares of the company’s stock, valued at $145,752,573.75. The disclosure for this purchase can be found here. Insiders have purchased a total of 28,119 shares of company stock worth $366,517 over the last 90 days. Insiders own 13.10% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Leonard Green & Partners L.P. bought a new position in shares of Life Time Group in the fourth quarter valued at about $1,010,945,000. Invesco Ltd. acquired a new stake in Life Time Group in the fourth quarter worth about $107,705,000. Teacher Retirement System of Texas acquired a new stake in Life Time Group in the fourth quarter worth about $89,492,000. Alliancebernstein L.P. acquired a new stake in Life Time Group in the fourth quarter worth about $82,201,000. Finally, Principal Financial Group Inc. increased its position in Life Time Group by 29.9% in the second quarter. Principal Financial Group Inc. now owns 4,741,125 shares of the company’s stock worth $61,065,000 after purchasing an additional 1,092,156 shares during the period. 73.38% of the stock is owned by institutional investors.
Life Time Group Price Performance
The stock has a 50-day moving average of $14.02 and a 200 day moving average of $14.41. The company has a quick ratio of 0.24, a current ratio of 0.35 and a debt-to-equity ratio of 0.87.
Life Time Group (NYSE:LTH – Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The firm had revenue of $392.25 million during the quarter, compared to analyst estimates of $386.43 million. Equities analysts anticipate that Life Time Group Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.
Life Time Group Company Profile
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 sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.
