MSD Capital L P Trims Stock Position in Life Time Group Holdings, Inc. (NYSE:LTH)

MSD Capital L P cut its stake in Life Time Group Holdings, Inc. (NYSE:LTH) by 95.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 502,112 shares of the company’s stock after selling 11,192,988 shares during the period. Life Time Group accounts for 2.0% of MSD Capital L P’s portfolio, making the stock its 4th biggest position. MSD Capital L P’s holdings in Life Time Group were worth $12,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LTH. PDT Partners LLC lifted its stake in Life Time Group by 22.2% in the third quarter. PDT Partners LLC now owns 85,783 shares of the company’s stock valued at $2,095,000 after buying an additional 15,587 shares during the period. Walleye Capital LLC acquired a new position in shares of Life Time Group during the 3rd quarter valued at $1,129,000. FORA Capital LLC bought a new position in Life Time Group during the third quarter worth $840,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Life Time Group in the third quarter worth $5,131,000. Finally, FMR LLC increased its stake in Life Time Group by 268.2% in the third quarter. FMR LLC now owns 5,011 shares of the company’s stock valued at $122,000 after purchasing an additional 3,650 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America boosted their target price on Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley boosted their price objective on Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI began coverage on Life Time Group in a research report on Friday, November 22nd. They set an “outperform” rating and a $29.00 target price on the stock. Northland Securities lifted their price target on shares of Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Life Time Group from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Life Time Group has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Insider Activity

In other Life Time Group news, EVP Parham Javaheri sold 168,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the completion of the transaction, the executive vice president now owns 243,938 shares in the company, valued at $5,993,556.66. This trade represents a 40.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erik Weaver sold 4,662 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total transaction of $120,652.56. Following the sale, the chief financial officer now owns 75,866 shares in the company, valued at $1,963,412.08. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.50% of the company’s stock.

Life Time Group Stock Performance

Shares of Life Time Group stock opened at $24.27 on Friday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.89. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $24.39 and its 200 day simple moving average is $21.82. Life Time Group Holdings, Inc. has a 12 month low of $11.89 and a 12 month high of $27.11.

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

Life Time Group Company 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.