Life Time Group (NYSE:LTH) Issues Quarterly Earnings Results

Life Time Group (NYSE:LTH) posted its earnings results on Thursday. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01), Briefing.com reports. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. The business had revenue of $693.20 million during the quarter, compared to the consensus estimate of $684.13 million. During the same period in the previous year, the business posted $0.09 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Life Time Group updated its FY 2024 guidance to EPS.

Life Time Group Price Performance

Shares of NYSE LTH traded up $0.24 during midday trading on Friday, reaching $23.51. 1,590,036 shares of the stock traded hands, compared to its average volume of 1,111,351. The company’s 50 day moving average is $24.49 and its 200 day moving average is $20.06. Life Time Group has a one year low of $11.10 and a one year high of $27.11. The stock has a market capitalization of $4.67 billion, a PE ratio of 65.31, a P/E/G ratio of 3.35 and a beta of 1.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.44 and a quick ratio of 0.32.

Insider Buying and Selling

In other news, CFO Erik Weaver sold 4,662 shares of the business’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 sale, the chief financial officer now directly owns 75,866 shares in the company, valued at $1,963,412.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Life Time Group news, CFO Erik Weaver sold 4,662 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 75,866 shares in the company, valued at $1,963,412.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John G. Danhakl sold 3,575,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total transaction of $74,646,000.00. Following the completion of the sale, the director now directly owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,229,662 shares of company stock worth $88,338,653. Insiders own 12.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LTH shares. Morgan Stanley lifted their price target 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 boosted their price target on Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Bank of America raised their price objective on Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price 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. Finally, Craig Hallum began coverage on shares of Life Time Group in a report on Friday, July 19th. They set a “buy” rating and a $30.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Life Time Group presently has a consensus rating of “Moderate Buy” and an average price target of $27.63.

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.