Life Time Group (NYSE:LTH) Shares Gap Down – Should You Sell?

Life Time Group Holdings, Inc. (NYSE:LTH) shares gapped down prior to trading on Friday . The stock had previously closed at $32.95, but opened at $31.50. Life Time Group shares last traded at $31.7540, with a volume of 902,652 shares trading hands.

Analysts Set New Price Targets

LTH has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $41.00 target price on shares of Life Time Group in a research note on Tuesday, May 5th. KeyCorp initiated coverage on shares of Life Time Group in a research note on Thursday, March 12th. They issued an “overweight” rating and a $40.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Mizuho increased their target price on shares of Life Time Group from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Guggenheim reissued a “buy” rating and issued a $36.00 target price on shares of Life Time Group in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.50.

Life Time Group Trading Down 3.7%

The stock’s fifty day moving average price is $28.46 and its 200 day moving average price is $27.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. The stock has a market capitalization of $7.07 billion, a P/E ratio of 18.58, a PEG ratio of 1.38 and a beta of 1.50.

Life Time Group (NYSE:LTH) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $788.70 million for the quarter, compared to analysts’ expectations of $787.65 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Research analysts forecast that Life Time Group Holdings, Inc. will post 1.47 earnings per share for the current year.

Insider Transactions at Life Time Group

In other Life Time Group news, Director John G. Danhakl sold 4,991,749 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $157,040,423.54. Following the transaction, the director directly owned 16,242,383 shares in the company, valued at $510,985,369.18. This represents a 23.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Partners Group Private Equity sold 747,178 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $31.46, for a total transaction of $23,506,219.88. Following the transaction, the insider owned 2,431,203 shares in the company, valued at approximately $76,485,646.38. The trade was a 23.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,638,669 shares of company stock valued at $507,722,099. Company insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Life Time Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company’s stock worth $362,651,000 after acquiring an additional 143,487 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Life Time Group by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock worth $217,929,000 after acquiring an additional 1,068,208 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Life Time Group by 41.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after acquiring an additional 2,091,712 shares in the last quarter. Wellington Management Group LLP grew its holdings in Life Time Group by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock worth $155,852,000 after acquiring an additional 34,964 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Life Time Group by 102.1% during the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock worth $117,797,000 after acquiring an additional 2,156,033 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

Life Time Group Company Profile

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.