Truist Financial Corp Acquires Shares of 22,899 Life Time Group Holdings, Inc. (NYSE:LTH)

Truist Financial Corp acquired a new stake in Life Time Group Holdings, Inc. (NYSE:LTH) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 22,899 shares of the company’s stock, valued at approximately $507,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in Life Time Group by 146.8% in the 3rd quarter. Jane Street Group LLC now owns 182,054 shares of the company’s stock valued at $4,446,000 after acquiring an additional 108,283 shares in the last quarter. Franklin Resources Inc. acquired a new position in Life Time Group in the 3rd quarter valued at $593,000. Quadrature Capital Ltd bought a new position in shares of Life Time Group in the 3rd quarter valued at $697,000. JPMorgan Chase & Co. increased its stake in shares of Life Time Group by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,569,214 shares of the company’s stock valued at $87,160,000 after purchasing an additional 356,255 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Life Time Group by 105.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock valued at $43,000 after purchasing an additional 906 shares during the last quarter. 79.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LTH. Evercore ISI began coverage on Life Time Group in a research note on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price target on the stock. Oppenheimer lifted their price target on Life Time Group from $33.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim lifted their price target on Life Time Group from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price target on Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Northland Securities lifted their price target on Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.59.

Life Time Group Trading Up 3.2 %

Shares of LTH stock opened at $31.43 on Tuesday. The firm has a market capitalization of $6.51 billion, a P/E ratio of 45.55, a P/E/G ratio of 0.81 and a beta of 1.94. Life Time Group Holdings, Inc. has a twelve month low of $12.34 and a twelve month high of $33.64. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $27.88 and its 200 day simple moving average is $25.43.

Insiders Place Their Bets

In other Life Time Group news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of Life Time Group stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the transaction, the executive vice president now directly owns 191,626 shares of the company’s stock, valued at approximately $4,790,650. The trade was a 11.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Erik Weaver sold 1,741 shares of Life Time Group stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total value of $51,568.42. Following the transaction, the chief financial officer now directly owns 96,361 shares in the company, valued at $2,854,212.82. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,082,147 shares of company stock valued at $152,891,556. 12.50% of the stock is currently owned by company insiders.

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.