Jennison Associates LLC Acquires New Stake in Life Time Group Holdings, Inc. (NYSE:LTH)

Jennison Associates LLC bought a new position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 LTH. American Century Companies Inc. raised its position in shares of Life Time Group by 402.6% during the second quarter. American Century Companies Inc. now owns 104,431 shares of the company's stock worth $1,966,000 after purchasing an additional 83,654 shares during the period. Quest Partners LLC acquired a new stake in shares of Life Time Group in the second quarter worth about $549,000. Farther Finance Advisors LLC boosted its stake in shares of Life Time Group by 105.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company's stock worth $43,000 after acquiring an additional 906 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of 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 valued at $7,111,000 after acquiring an additional 75,054 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new position in shares of Life Time Group in the 2nd quarter valued at approximately $3,134,000. Institutional investors and hedge funds own 79.40% of the company's stock.

Life Time Group Price Performance

Shares of LTH traded up $0.17 on Friday, hitting $24.55. The company's stock had a trading volume of 1,204,403 shares, compared to its average volume of 1,174,302. The company has a 50 day moving average price of $24.42 and a 200 day moving average price of $21.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46. The company has a market capitalization of $5.08 billion, a PE ratio of 35.58, a PEG ratio of 1.57 and a beta of 1.89. Life Time Group Holdings, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $27.11.

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

Insider Buying and Selling

In other news, CFO Erik Weaver sold 4,662 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the transaction, the chief financial officer now owns 75,866 shares of the company's stock, valued at approximately $1,963,412.08. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LTH. Royal Bank of Canada lifted their price target on shares of Life Time Group from $20.00 to $27.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Northland Securities boosted their target price 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. Bank of America raised their price target 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. Wells Fargo & Company boosted their price objective on Life Time Group from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.78.

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.