Franklin Resources Inc. Invests $593,000 in Life Time Group Holdings, Inc. (NYSE:LTH)

Franklin Resources Inc. purchased a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,108 shares of the company's stock, valued at approximately $593,000.

Several other institutional investors and hedge funds have also bought and sold shares of LTH. Geode Capital Management LLC raised its position in shares of Life Time Group by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,842 shares of the company's stock worth $36,585,000 after acquiring an additional 152,504 shares in the last quarter. Barclays PLC grew its stake in Life Time Group by 119.0% in the third quarter. Barclays PLC now owns 248,698 shares of the company's stock worth $6,073,000 after purchasing an additional 135,116 shares during the period. Jane Street Group LLC raised its holdings in Life Time Group by 146.8% in the third quarter. Jane Street Group LLC now owns 182,054 shares of the company's stock worth $4,446,000 after purchasing an additional 108,283 shares in the last quarter. State Street Corp lifted its position in Life Time Group by 14.1% during the third quarter. State Street Corp now owns 1,421,790 shares of the company's stock valued at $34,720,000 after buying an additional 176,154 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Life Time Group during the 3rd quarter valued at $697,000. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LTH shares. Evercore ISI initiated coverage on shares of Life Time Group in a research note on Friday, November 22nd. They issued an "outperform" rating and a $29.00 price target for the company. Wells Fargo & Company raised their target price on shares of Life Time Group from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Bank of America boosted their price target on Life Time Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Northland Securities raised their price objective on 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, Morgan Stanley boosted their target price on Life Time Group from $21.00 to $29.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.89.

Life Time Group Stock Performance

Shares of LTH stock traded up $0.24 during trading hours on Tuesday, reaching $22.12. The company had a trading volume of 1,059,999 shares, compared to its average volume of 1,112,276. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. The business has a fifty day moving average price of $23.48 and a 200-day moving average price of $22.84. Life Time Group Holdings, Inc. has a one year low of $11.89 and a one year high of $27.11. The firm has a market cap of $4.58 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.88.

Life Time Group (NYSE:LTH - Get Free Report) last posted 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 company had revenue of $693.20 million during 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 period last year, the firm posted $0.09 EPS. Sell-side analysts predict that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Life Time Group

In other news, EVP Parham Javaheri sold 168,000 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total value of $4,127,760.00. Following the completion of the sale, the executive vice president now directly owns 243,938 shares in the company, valued at $5,993,556.66. This represents a 40.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Erik Weaver sold 4,662 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total value of $120,652.56. Following the completion of the sale, the chief financial officer now owns 75,866 shares of the company's stock, valued at approximately $1,963,412.08. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. 12.50% of the stock is owned by corporate insiders.

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.