Principal Financial Group Inc. lifted its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,646,372 shares of the company's stock after acquiring an additional 46,710 shares during the quarter. Principal Financial Group Inc. owned approximately 1.76% of Life Time Group worth $89,045,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LTH. Lord Abbett & CO. LLC bought a new position in shares of Life Time Group in the third quarter worth approximately $31,575,000. Franklin Resources Inc. purchased a new position in shares of Life Time Group during the 3rd quarter valued at $593,000. Geode Capital Management LLC boosted its holdings in Life Time Group by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,842 shares of the company's stock worth $36,585,000 after buying an additional 152,504 shares during the period. Barclays PLC increased its stake in Life Time Group by 119.0% in the 3rd quarter. Barclays PLC now owns 248,698 shares of the company's stock worth $6,073,000 after buying an additional 135,116 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Life Time Group by 146.8% during the third 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 during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Parham Javaheri sold 168,000 shares of Life Time Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the completion of the transaction, the executive vice president now directly owns 243,938 shares of the company's stock, valued at approximately $5,993,556.66. The trade was a 40.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erik Weaver sold 4,662 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the completion of the sale, the chief financial officer now directly owns 75,866 shares in the company, valued at $1,963,412.08. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.
Shares of NYSE:LTH opened at $22.31 on Friday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.49 and a beta of 1.88. Life Time Group Holdings, Inc. has a 12 month low of $11.89 and a 12 month high of $27.11. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $24.00 and a 200 day moving average price of $22.59.
Life Time Group (NYSE:LTH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $693.20 million during the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. Life Time Group's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts predict that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current year.
Several analysts recently issued reports on the company. Northland Securities increased their target price on Life Time Group from $28.50 to $29.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Life Time Group from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Bank of America boosted 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, Evercore ISI started coverage on shares of Life Time Group in a report on Friday, November 22nd. They set an "outperform" rating and a $29.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.89.
Get Our Latest Stock Report on LTH
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.
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