Point72 Asset Management L.P. Buys 711,443 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Point72 Asset Management L.P. grew its stake in Life Time Group Holdings, Inc. (NYSE:LTH) by 79.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,602,100 shares of the company’s stock after acquiring an additional 711,443 shares during the period. Point72 Asset Management L.P.’s holdings in Life Time Group were worth $35,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Barclays PLC raised its holdings in Life Time Group by 119.0% in the 3rd quarter. Barclays PLC now owns 248,698 shares of the company’s stock valued at $6,073,000 after acquiring an additional 135,116 shares during the period. Franklin Resources Inc. bought a new position in shares of Life Time Group during the third quarter worth approximately $593,000. Park Avenue Securities LLC acquired a new stake in Life Time Group during the 4th quarter worth approximately $542,000. R Squared Ltd bought a new stake in Life Time Group in the 4th quarter valued at $42,000. Finally, Precision Wealth Strategies LLC bought a new stake in Life Time Group in the 4th quarter valued at $387,000. 79.40% of the stock is owned by institutional investors.

Insider Activity at Life Time Group

In other Life Time Group news, CEO Bahram Akradi sold 5,000,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $30.13, for a total transaction of $150,650,000.00. Following the sale, the chief executive officer now owns 2,993,849 shares of the company’s stock, valued at approximately $90,204,670.37. The trade was a 62.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LTH has been the subject of a number of recent research reports. BMO Capital Markets set a $28.00 target price on shares of Life Time Group and gave the company a “hold” rating in a research report on Friday, March 14th. Wells Fargo & Company set a $28.00 price objective on shares of Life Time Group and gave the company a “hold” rating in a report on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of Life Time Group from $22.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Mizuho lifted their price target on shares of Life Time Group from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft set a $36.00 price target on Life Time Group and gave the stock a “buy” rating in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.92.

Life Time Group Stock Up 2.4%

Shares of LTH opened at $29.49 on Friday. The firm has a 50 day simple moving average of $30.47 and a two-hundred day simple moving average of $27.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46. Life Time Group Holdings, Inc. has a one year low of $15.12 and a one year high of $34.99. The company has a market cap of $6.47 billion, a P/E ratio of 42.73, a P/E/G ratio of 0.81 and a beta of 1.86.

Life Time Group (NYSE:LTH) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.12. Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. The company had revenue of $706.04 million for the quarter, compared to analyst estimates of $684.06 million. During the same quarter last year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts forecast that Life Time Group Holdings, Inc. will post 0.74 EPS for the current fiscal year.

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.