Life Time Group (NYSE:LTH) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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

Life Time Group Trading Up 1.0 %

LTH stock traded up $0.24 during midday trading on Friday, hitting $23.51. The company had a trading volume of 1,590,036 shares, compared to its average volume of 1,111,351. The company has a current ratio of 0.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.77. Life Time Group has a 52 week low of $11.10 and a 52 week high of $27.11. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 3.35 and a beta of 1.87. The stock’s 50 day moving average price is $24.49 and its 200 day moving average price is $20.06.

Insider Buying and Selling

In other Life Time Group news, Director John G. Danhakl sold 3,575,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $74,646,000.00. Following the sale, the director now owns 55,166,700 shares of the company’s stock, valued at $1,151,880,696. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John G. Danhakl sold 3,575,000 shares of Life Time Group 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 sale, the director now directly owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Partners Group Private Equity sold 650,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total transaction of $13,572,000.00. Following the transaction, the insider now directly owns 5,929,348 shares in the company, valued at approximately $123,804,786.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LTH shares. The Goldman Sachs Group lifted their target price on shares of Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Northland Securities increased their target price on Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research note on Friday. Craig Hallum started coverage on Life Time Group in a report on Friday, July 19th. They issued a “buy” rating and a $30.00 price objective for the company. Wells Fargo & Company raised their price objective on Life Time Group from $21.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Bank of America upped their target price 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.63.

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.