Life Time Group (NYSE:LTH) Posts 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 return on equity of 5.36% and a net margin of 4.54%. The firm had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Life Time Group updated its FY 2024 guidance to EPS.

Life Time Group Stock Performance

Shares of LTH stock traded down $2.25 during trading on Thursday, reaching $23.07. 1,163,489 shares of the company’s stock traded hands, compared to its average volume of 1,101,824. Life Time Group has a 1 year low of $11.10 and a 1 year high of $27.11. The company has a market capitalization of $4.59 billion, a P/E ratio of 66.08, a PEG ratio of 3.20 and a beta of 1.87. The company has a current ratio of 0.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $24.47 and its 200 day moving average is $20.04.

Insider Buying and Selling at Life Time Group

In other news, major shareholder Partners Group Private Equity sold 650,000 shares of Life Time Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $13,572,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Partners Group Private Equity sold 650,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $13,572,000.00. Following the completion of the transaction, the insider now directly owns 5,929,348 shares in the company, valued at approximately $123,804,786.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Erik Weaver sold 4,662 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,229,662 shares of company stock valued at $88,338,653 in the last 90 days. 12.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LTH has been the subject of several recent analyst reports. Bank of America upped their target price on Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 6th. Northland Securities raised their target price on Life Time Group from $27.00 to $28.50 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target 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. Royal Bank of Canada raised their price objective on shares of Life Time Group from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted 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 note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.