Life Time Group (NYSE:LTH) Shares Gap Down Following Weak Earnings

Life Time Group Holdings, Inc. (NYSE:LTH) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $25.32, but opened at $24.10. Life Time Group shares last traded at $23.24, with a volume of 357,380 shares trading hands.

The company reported $0.19 earnings per share 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 4.54% and a return on equity of 5.36%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS.

Analyst Ratings Changes

Several brokerages have commented on LTH. Bank of America raised their price objective on Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on Life Time Group from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on Life Time Group from $15.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Craig Hallum started coverage on Life Time Group in a report on Friday, July 19th. They set a “buy” rating and a $30.00 price objective on the stock. Three 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 stock presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Insider Transactions at Life Time Group

In other news, CFO Erik Weaver sold 4,662 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the transaction, the chief financial officer now owns 75,866 shares of the company’s stock, valued at approximately $1,963,412.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $20.88, for a total transaction of $13,572,000.00. Following the sale, the insider now owns 5,929,348 shares of the company’s stock, valued at $123,804,786.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erik Weaver sold 4,662 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the sale, the chief financial officer now directly owns 75,866 shares in the company, valued at approximately $1,963,412.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,229,662 shares of company stock valued at $88,338,653. 12.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Life Time Group

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in Life Time Group by 1,443.3% during the first quarter. Quantbot Technologies LP now owns 73,986 shares of the company’s stock valued at $1,148,000 after purchasing an additional 69,192 shares in the last quarter. American Century Companies Inc. raised its stake in Life Time Group by 402.6% in the second quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock valued at $1,966,000 after buying an additional 83,654 shares during the last quarter. Quest Partners LLC purchased a new stake in Life Time Group in the second quarter valued at about $549,000. Point72 Asset Management L.P. raised its stake in Life Time Group by 24.8% in the second quarter. Point72 Asset Management L.P. now owns 377,624 shares of the company’s stock valued at $7,111,000 after buying an additional 75,054 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. purchased a new stake in Life Time Group in the second quarter valued at about $3,134,000. Institutional investors own 79.40% of the company’s stock.

Life Time Group Stock Performance

The business has a 50 day simple moving average of $24.47 and a 200 day simple moving average of $20.04. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $4.73 billion, a PE ratio of 64.11, a PEG ratio of 3.20 and a beta of 1.87.

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.