Life Time Group (NYSE:LTH – Get Rating) had its target price lowered by stock analysts at Morgan Stanley from $17.00 to $16.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest an upside potential of 5.61% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Royal Bank of Canada raised their target price on Life Time Group from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company cut Life Time Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $15.00 to $13.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Life Time Group presently has a consensus rating of “Moderate Buy” and an average price target of $18.67.
Life Time Group Trading Up 1.3%
Shares of LTH stock opened at $15.15 on Thursday. The stock has a market cap of $2.94 billion and a price-to-earnings ratio of -6.97. The stock has a 50-day moving average of $14.01 and a 200-day moving average of $14.41. The company has a current ratio of 0.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.87. Life Time Group has a 1-year low of $10.53 and a 1-year high of $23.37.
Life Time Group (NYSE:LTH – Get Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. Life Time Group had a negative return on equity of 7.65% and a negative net margin of 24.42%. The business had revenue of $392.25 million during the quarter, compared to analysts’ expectations of $386.43 million. On average, equities research analysts forecast that Life Time Group will post -0.25 earnings per share for the current year.
Insider Buying and Selling at Life Time Group
In other news, insider Retirement System Of T. Teacher acquired 4,671 shares of Life Time Group stock in a transaction on Friday, July 8th. The stock was purchased at an average price of $13.40 per share, with a total value of $62,591.40. Following the completion of the purchase, the insider now owns 5,204,671 shares of the company’s stock, valued at approximately $69,742,591.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Bahram Akradi bought 23,072 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were bought at an average price of $12.95 per share, for a total transaction of $298,782.40. Following the completion of the acquisition, the chief executive officer now directly owns 11,255,025 shares of the company’s stock, valued at $145,752,573.75. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Retirement System Of T. Teacher bought 4,671 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was bought at an average price of $13.40 per share, for a total transaction of $62,591.40. Following the acquisition, the insider now directly owns 5,204,671 shares of the company’s stock, valued at $69,742,591.40. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 28,119 shares of company stock valued at $366,517. Company insiders own 13.10% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of LTH. Leonard Green & Partners LP bought a new position in shares of Life Time Group in the fourth quarter valued at approximately $1,010,945,000. Invesco Ltd. bought a new stake in Life Time Group during the fourth quarter worth $107,705,000. Teacher Retirement System of Texas bought a new stake in Life Time Group during the fourth quarter worth $89,492,000. Alliancebernstein LP bought a new stake in Life Time Group during the fourth quarter worth $82,201,000. Finally, JPMorgan Chase & Co. bought a new stake in Life Time Group during the fourth quarter worth $63,469,000. Institutional investors own 73.38% of the company’s stock.
LifeTime 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 sports and athletics, professional fitness, family recreation, and spa centers in a resort-like environment, primarily in suburban and urban locations of metropolitan areas.
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