Life Time Group (NYSE:LTH) Shares Gap Down Following Weak Earnings

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.32, but opened at $24.10. Life Time Group shares last traded at $23.24, with a volume of 357,380 shares changing hands.

The company reported $0.19 earnings per share (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 analysts' expectations of $684.13 million. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LTH shares. 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. Craig Hallum started coverage on Life Time Group in a research report on Friday, July 19th. They set a "buy" rating and a $30.00 price objective for the company. Northland Securities boosted their price objective on Life Time Group from $27.00 to $28.50 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Bank of America boosted their price objective 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. Finally, Morgan Stanley boosted their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.56.

Insider Activity at Life Time Group

In related news, Director John G. Danhakl sold 3,575,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $74,646,000.00. Following the completion of the transaction, the director now directly owns 55,166,700 shares of the company's stock, valued at $1,151,880,696. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Life Time Group news, Director John G. Danhakl sold 3,575,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $74,646,000.00. Following the completion of the sale, the director now owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Erik Weaver sold 4,662 shares of the business'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 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,229,662 shares of company stock valued at $88,338,653 over the last three months. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life Time Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in Life Time Group by 1,443.3% in the first quarter. Quantbot Technologies LP now owns 73,986 shares of the company's stock valued at $1,148,000 after buying an additional 69,192 shares during the last quarter. American Century Companies Inc. lifted its stake in Life Time Group by 402.6% in the second quarter. American Century Companies Inc. now owns 104,431 shares of the company's stock valued at $1,966,000 after buying an additional 83,654 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Life Time Group during the second quarter worth approximately $549,000. Point72 Asset Management L.P. raised its stake in shares of Life Time Group by 24.8% during the second quarter. Point72 Asset Management L.P. now owns 377,624 shares of the company's stock worth $7,111,000 after purchasing an additional 75,054 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Life Time Group during the second quarter worth approximately $3,134,000. Hedge funds and other institutional investors own 79.40% of the company's stock.

Life Time Group Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 0.44 and a quick ratio of 0.32. The company has a 50 day moving average price of $24.47 and a 200 day moving average price of $20.04. The firm has a market cap of $4.62 billion, a PE ratio of 64.64, a PEG ratio of 3.20 and a beta of 1.87.

About Life Time Group

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.