The Manufacturers Life Insurance Company Acquires 6,749 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

The Manufacturers Life Insurance Company raised its holdings in Life Time Group Holdings, Inc. (NYSE:LTH) by 22.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,370 shares of the company’s stock after purchasing an additional 6,749 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Life Time Group were worth $704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in shares of Life Time Group by 1,443.3% during the first quarter. Quantbot Technologies LP now owns 73,986 shares of the company’s stock worth $1,148,000 after purchasing an additional 69,192 shares during the period. American Century Companies Inc. increased its position in Life Time Group by 402.6% during the second quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock worth $1,966,000 after buying an additional 83,654 shares during the last quarter. Quest Partners LLC acquired a new position in Life Time Group during the second quarter worth approximately $549,000. Peregrine Asset Advisers Inc. acquired a new position in Life Time Group during the second quarter worth approximately $3,134,000. Finally, Bank of New York Mellon Corp increased its position in Life Time Group by 31.2% during the second quarter. Bank of New York Mellon Corp now owns 262,760 shares of the company’s stock worth $4,948,000 after buying an additional 62,466 shares during the last quarter. 79.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John G. Danhakl sold 3,575,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $74,646,000.00. Following the completion of the sale, the director now directly owns 55,166,700 shares in the company, valued at $1,151,880,696. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Partners Group Private Equity sold 650,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $13,572,000.00. Following the transaction, the insider now owns 5,929,348 shares of the company’s stock, valued at approximately $123,804,786.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John G. Danhakl sold 3,575,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total transaction of $74,646,000.00. Following the completion of the transaction, the director now directly owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.

Life Time Group Stock Up 1.6 %

Shares of LTH opened at $25.67 on Tuesday. Life Time Group Holdings, Inc. has a 52 week low of $11.10 and a 52 week high of $26.16. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 71.31, a PEG ratio of 3.20 and a beta of 1.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.32 and a current ratio of 0.44. The stock has a fifty day moving average of $24.10 and a 200-day moving average of $19.54.

Life Time Group (NYSE:LTH) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. The firm had revenue of $667.80 million during the quarter, compared to the consensus estimate of $634.92 million. During the same period last year, the business posted $0.08 EPS. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LTH shares. Craig Hallum started coverage on Life Time Group in a research report on Friday, July 19th. They issued a “buy” rating and a $30.00 target price on the stock. Bank of America increased their price target on Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their price target on Life Time Group from $15.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Northland Securities upped their target price on Life Time Group from $27.00 to $28.50 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Life Time Group from $15.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.64.

Life Time Group 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 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.