Shellback Capital LP Buys 75,000 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Shellback Capital LP raised its position in Life Time Group Holdings, Inc. (NYSE:LTH) by 28.2% in the second quarter, HoldingsChannel.com reports. The fund owned 341,000 shares of the company’s stock after purchasing an additional 75,000 shares during the quarter. Shellback Capital LP’s holdings in Life Time Group were worth $6,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in LTH. Amalgamated Bank raised its holdings in shares of Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after purchasing an additional 563 shares during the period. Dnca Finance acquired a new position in Life Time Group during the second quarter worth approximately $72,000. SG Americas Securities LLC bought a new stake in Life Time Group in the second quarter valued at approximately $141,000. Hsbc Holdings PLC acquired a new stake in shares of Life Time Group in the second quarter valued at approximately $192,000. Finally, Entropy Technologies LP bought a new position in shares of Life Time Group during the 1st quarter worth approximately $198,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Insider Activity

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

Life Time Group Stock Down 1.9 %

Shares of LTH opened at $24.42 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $4.87 billion, a PE ratio of 67.83, a P/E/G ratio of 3.18 and a beta of 1.87. The firm’s 50 day moving average is $23.25 and its 200-day moving average is $18.63. Life Time Group Holdings, Inc. has a 12 month low of $11.10 and a 12 month high of $25.75.

Life Time Group (NYSE:LTH) last released its earnings results on Thursday, August 1st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $667.80 million for the quarter, compared to analyst estimates of $634.92 million. During the same period in the prior year, the firm posted $0.08 EPS. Life Time Group’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts forecast that Life Time Group Holdings, Inc. will post 0.56 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LTH shares. Royal Bank of Canada raised their price target on Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Life Time Group from $15.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America increased their price target on shares of Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their price objective on Life Time Group from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Craig Hallum started coverage on Life Time Group in a research note on Friday, July 19th. They set a “buy” rating and a $30.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Life Time Group currently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

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 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.