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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Life Time Group by 38.2% in the second quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after buying an additional 563 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Life Time Group by 105.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock valued at $43,000 after acquiring an additional 906 shares during the last quarter. Assetmark Inc. raised its holdings in Life Time Group by 8.5% in the 3rd quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock valued at $294,000 after acquiring an additional 941 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Life Time Group by 17.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,769 shares of the company’s stock worth $199,000 after purchasing an additional 1,866 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Life Time Group by 2.2% during the 3rd quarter. GSA Capital Partners LLP now owns 93,872 shares of the company’s stock worth $2,292,000 after purchasing an additional 1,987 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LTH. Royal Bank of Canada lifted their price objective on Life Time Group from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Northland Securities upped their price objective on shares of Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price target on shares of Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Evercore ISI started coverage on shares of Life Time Group in a research report on Friday. They set an “outperform” rating and a $29.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Life Time Group Stock Performance

NYSE:LTH opened at $24.55 on Friday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 35.58, a PEG ratio of 1.57 and a beta of 1.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. Life Time Group Holdings, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $27.11. The company has a 50 day moving average price of $24.42 and a 200 day moving average price of $21.48.

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

Insiders Place Their Bets

In related news, CFO Erik Weaver sold 4,662 shares of Life Time Group stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the completion of the transaction, the chief financial officer now owns 75,866 shares in the company, valued at approximately $1,963,412.08. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.50% of the company’s stock.

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.