JPMorgan Chase & Co. Sells 1,951,520 Shares of Life Time Group Holdings, Inc. $LTH

JPMorgan Chase & Co. reduced its stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) by 50.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,930,046 shares of the company’s stock after selling 1,951,520 shares during the quarter. JPMorgan Chase & Co.’s holdings in Life Time Group were worth $53,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of LTH. Vanguard Group Inc. raised its position in shares of Life Time Group by 2.9% during the third quarter. Vanguard Group Inc. now owns 13,500,274 shares of the company’s stock valued at $372,608,000 after buying an additional 374,833 shares during the last quarter. Ameriprise Financial Inc. grew its position in Life Time Group by 41.3% during the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after buying an additional 2,091,712 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Life Time Group by 9.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,959,990 shares of the company’s stock worth $164,504,000 after buying an additional 537,121 shares in the last quarter. Wellington Management Group LLP increased its stake in Life Time Group by 129.3% during the third quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock valued at $160,868,000 after acquiring an additional 3,286,229 shares during the period. Finally, Bank of America Corp DE increased its stake in Life Time Group by 102.1% during the third quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after acquiring an additional 2,156,033 shares during the period. 79.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research upgraded Life Time Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Jefferies Financial Group began coverage on Life Time Group in a research report on Tuesday, March 10th. They set a “buy” rating and a $40.00 price objective on the stock. Northland Securities set a $42.00 target price on Life Time Group in a research report on Friday, January 23rd. UBS Group reiterated a “buy” rating and set a $43.00 price target on shares of Life Time Group in a research note on Thursday, March 12th. Finally, Wells Fargo & Company assumed coverage on shares of Life Time Group in a report on Wednesday, March 11th. They issued an “overweight” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Life Time Group Stock Performance

Shares of NYSE:LTH opened at $25.86 on Friday. The firm’s 50 day simple moving average is $27.85 and its 200 day simple moving average is $27.08. Life Time Group Holdings, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $34.99. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.15 and a beta of 1.69. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.63 and a quick ratio of 0.52.

Life Time Group (NYSE:LTH) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $745.10 million during the quarter, compared to analysts’ expectations of $740.09 million. Life Time Group had a net margin of 12.51% and a return on equity of 10.20%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, sell-side analysts forecast that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current year.

Insider Activity

In related news, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $29.75, for a total value of $359,618.00. Following the completion of the sale, the executive vice president owned 110,967 shares in the company, valued at $3,301,268.25. This represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Parham Javaheri sold 11,060 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $26.46, for a total value of $292,647.60. Following the sale, the executive vice president directly owned 315,175 shares in the company, valued at $8,339,530.50. The trade was a 3.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,850 shares of company stock valued at $909,324 in the last quarter. Company insiders own 8.70% of the company’s stock.

About Life Time Group

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.