Jennison Associates LLC Invests $986,000 in Life Time Group Holdings, Inc. (NYSE:LTH)

Jennison Associates LLC bought a new stake in Life Time Group Holdings, Inc. (NYSE:LTH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 40,366 shares of the company’s stock, valued at approximately $986,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Life Time Group by 402.6% in the 2nd quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock valued at $1,966,000 after purchasing an additional 83,654 shares during the last quarter. Quest Partners LLC purchased a new position in Life Time Group in the second quarter valued at $549,000. Farther Finance Advisors LLC raised its stake in Life Time Group by 105.8% in the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock valued at $43,000 after buying an additional 906 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Life Time Group by 24.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 377,624 shares of the company’s stock worth $7,111,000 after buying an additional 75,054 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of Life Time Group during the 2nd quarter worth about $3,134,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Insider Transactions at Life Time Group

In other news, CFO Erik Weaver sold 4,662 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the completion of the transaction, the chief financial officer now directly owns 75,866 shares of the company’s stock, valued at approximately $1,963,412.08. This represents a 5.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Northland Securities boosted their price objective on shares of Life Time Group from $28.50 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of Life Time Group from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on Life Time Group from $15.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Evercore ISI started coverage on Life Time Group in a report on Friday. They issued an “outperform” rating and a $29.00 target price for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Life Time Group currently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Life Time Group Stock Up 0.7 %

LTH opened at $24.55 on Friday. The business has a 50 day moving average price of $24.42 and a two-hundred day moving average price of $21.48. Life Time Group Holdings, Inc. has a 52 week low of $11.89 and a 52 week high of $27.11. The company has a market cap of $5.08 billion, a PE ratio of 35.58, a P/E/G ratio of 1.57 and a beta of 1.89. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64.

Life Time Group (NYSE:LTH) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $693.20 million for the quarter, compared to analyst estimates of $684.13 million. Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. Life Time Group’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. As a group, research analysts anticipate that Life Time Group Holdings, Inc. will post 0.56 EPS for the current 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.