Millennium Management LLC Acquires 430,779 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Millennium Management LLC raised its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 66.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,076,386 shares of the company’s stock after purchasing an additional 430,779 shares during the quarter. Millennium Management LLC owned 0.54% of Life Time Group worth $20,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Amalgamated Bank increased its stake in Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock worth $38,000 after buying an additional 563 shares during the period. Dnca Finance purchased a new stake in Life Time Group in the 2nd quarter valued at about $72,000. SG Americas Securities LLC bought a new position in Life Time Group in the 2nd quarter worth about $141,000. Hsbc Holdings PLC purchased a new position in shares of Life Time Group during the second quarter worth approximately $192,000. Finally, Entropy Technologies LP purchased a new position in shares of Life Time Group during the first quarter worth approximately $198,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Partners Group Private Equity sold 650,000 shares of the business’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 $13,572,000.00. Following the transaction, the insider now directly owns 5,929,348 shares in the company, valued at $123,804,786.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Partners Group Private Equity sold 650,000 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 $13,572,000.00. Following the completion of the sale, the insider now directly owns 5,929,348 shares in the company, valued at $123,804,786.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John G. Danhakl sold 3,575,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. This represents 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 Price Performance

LTH opened at $24.88 on Friday. The firm has a market capitalization of $4.95 billion, a PE ratio of 69.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.44 and a quick ratio of 0.32. The business’s 50-day moving average is $23.66 and its two-hundred day moving average is $19.04. Life Time Group Holdings, Inc. has a 1 year low of $11.10 and a 1 year high of $25.75.

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

Analysts Set New Price Targets

LTH has been the topic of several research analyst reports. Northland Securities increased their price objective 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. Craig Hallum assumed coverage on Life Time Group in a research report on Friday, July 19th. They set a “buy” rating and a $30.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their target price on shares of Life Time Group from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Bank of America raised their target price on shares of Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.