Life Time Group (NYSE:LTH) Shares Down 8.7% on Analyst Downgrade


LifeTime Group Holdings, Inc. (NYSE:LTH – Get Rating) dropped 8.7% on Thursday after Morgan Stanley lowered their price target on the stock from $17.00 to $16.00. Morgan Stanley currently has an equal weight rating on the stock. Life Time Group traded as low as $13.96 and last traded at $14.14. Approximately 2,470 shares traded hands during trading, a decline of 99% from the average daily volume of 214,815 shares. The stock had previously closed at $15.49.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada raised their price objective on Life Time Group from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company lowered 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 report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Insider Buying and Selling

In related news, CEO Bahram Akradi purchased 23,072 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average price of $12.95 per share, with a total value of $298,782.40. Following the acquisition, the chief executive officer now owns 11,255,025 shares in the company, valued at approximately $145,752,573.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Life Time Group news, insider Retirement System Of T. Teacher bought 4,671 shares of the business’s stock in a transaction on Friday, July 8th. The shares were purchased at an average price of $13.40 per share, with a total value of $62,591.40. Following the purchase, the insider now directly owns 5,204,671 shares of the company’s stock, valued at $69,742,591.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bahram Akradi bought 23,072 shares of the business’s stock in a transaction on Tuesday, June 14th. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $298,782.40. Following the purchase, the chief executive officer now directly owns 11,255,025 shares in the company, valued at $145,752,573.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 28,119 shares of company stock valued at $366,517. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. Acquired a new position in shares of Life Time Group during the 4th quarter valued at $46,000. Assetmark Inc. increased its position in shares of Life Time Group by 158.1% during the 2nd quarter. Assetmark Inc. now owns 4,293 shares of the company’s stock valued at $55,000 after purchasing an additional 2,630 shares during the period. UBS Group AG increased its position in shares of Life Time Group by 88.4% during the 1st quarter. UBS Group AG now owns 4,682 shares of the company’s stock valued at $68,000 after purchasing an additional 2,197 shares during the period. Amalgamated Bank acquired a new position in shares of Life Time Group during the 1st quarter valued at $82,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Life Time Group during the 4th quarter valued at $162,000. 73.38% of the stock is currently owned by institutional investors and hedge funds.

Life Time Group Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.35 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $14.02 and a 200-day moving average of $14.41.

Life Time Group (NYSE:LTH – Get Rating) last issued its earnings results on Wednesday, May 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The company had revenue of $392.25 million during the quarter, compared to analyst estimates of $386.43 million. As a group, research analysts expect that Life Time Group Holdings, Inc. will post -0.25 EPS for the current fiscal year.

LifeTime Group Company Profile

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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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