Wedge Capital Management L L P NC Has $43.22 Million Position in Life Time Group Holdings, Inc. $LTH

Wedge Capital Management L L P NC cut its holdings in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 16.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,058,320 shares of the company’s stock after selling 208,614 shares during the period. Life Time Group comprises approximately 0.7% of Wedge Capital Management L L P NC’s portfolio, making the stock its 27th largest position. Wedge Capital Management L L P NC owned 0.48% of Life Time Group worth $43,222,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LTH. Wexford Capital LP acquired a new position in Life Time Group in the 3rd quarter valued at approximately $40,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Life Time Group by 201.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 1,002 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Life Time Group in the fourth quarter worth $73,000. Versant Capital Management Inc grew its stake in shares of Life Time Group by 286.7% in the second quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock worth $74,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Phillip James Consulting Co. acquired a new stake in Life Time Group in the first quarter valued at $91,000. 79.40% of the stock is owned by institutional investors.

Life Time Group Price Performance

Shares of NYSE LTH opened at $43.85 on Wednesday. The company has a market capitalization of $9.80 billion, a PE ratio of 23.83, a P/E/G ratio of 1.56 and a beta of 1.50. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. Life Time Group Holdings, Inc. has a twelve month low of $24.14 and a twelve month high of $47.24. The firm has a fifty day simple moving average of $40.05 and a 200 day simple moving average of $32.77.

Life Time Group (NYSE:LTH) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The business had revenue of $866.00 million for the quarter, compared to analysts’ expectations of $845.75 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts forecast that Life Time Group Holdings, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Life Time Group news, EVP Eric J. Buss sold 479,240 shares of Life Time Group stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $44.97, for a total value of $21,551,422.80. Following the completion of the sale, the executive vice president directly owned 474,008 shares in the company, valued at approximately $21,316,139.76. The trade was a 50.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Kristofer Galashan sold 3,006,100 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $32.51, for a total value of $97,728,311.00. Following the completion of the transaction, the director directly owned 13,236,283 shares in the company, valued at approximately $430,311,560.33. This trade represents a 18.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,346,029 shares of company stock worth $396,108,368 over the last three months. Insiders own 13.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LTH. Royal Bank Of Canada raised their target price on Life Time Group from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. The Goldman Sachs Group assumed coverage on Life Time Group in a research note on Monday, August 3rd. They issued a “buy” rating and a $53.00 price target for the company. UBS Group raised their price objective on Life Time Group from $43.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Jefferies Financial Group lifted their price objective on Life Time Group from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded Life Time Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.77.

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.