Life Time Group (NYSE:LTH) Sets New 12-Month High Following Analyst Upgrade

Life Time Group Holdings, Inc. (NYSE:LTH)’s stock price reached a new 52-week high during trading on Thursday after Craig Hallum raised their price target on the stock from $33.00 to $40.00. Craig Hallum currently has a buy rating on the stock. Life Time Group traded as high as $28.86 and last traded at $28.45, with a volume of 1913698 shares. The stock had previously closed at $28.30.

Several other analysts also recently commented on LTH. 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 research note on Wednesday, October 16th. Evercore ISI started coverage on Life Time Group in a research note on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price objective for the company. Northland Securities upped their target price on Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Guggenheim reissued a “buy” rating and issued a $32.00 price target (up previously from $29.00) on shares of Life Time Group in a research report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on shares of Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Life Time Group presently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

Insiders Place Their Bets

In related news, EVP Parham Javaheri sold 168,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the completion of the sale, the executive vice president now directly owns 243,938 shares of the company’s stock, valued at approximately $5,993,556.66. This trade represents a 40.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ritadhwaja Jebens Singh sold 25,000 shares of Life Time Group stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the sale, the executive vice president now owns 191,626 shares in the company, valued at $4,790,650. This trade represents a 11.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Large investors have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in Life Time Group by 38.2% during the second quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after purchasing an additional 563 shares during the period. Farther Finance Advisors LLC lifted its position 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 valued at $43,000 after buying an additional 906 shares during the last quarter. Moody National Bank Trust Division grew its stake in shares of Life Time Group by 1.0% during the 4th quarter. Moody National Bank Trust Division now owns 92,101 shares of the company’s stock worth $2,037,000 after acquiring an additional 911 shares during the period. Assetmark Inc. increased its holdings in Life Time Group by 8.5% in the 3rd quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock worth $294,000 after acquiring an additional 941 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Life Time Group by 2.2% in the 3rd quarter. GSA Capital Partners LLP now owns 93,872 shares of the company’s stock valued at $2,292,000 after acquiring an additional 1,987 shares during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.

Life Time Group Stock Performance

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 firm has a market capitalization of $5.89 billion, a PE ratio of 41.24, a P/E/G ratio of 1.06 and a beta of 1.89. The company’s fifty day simple moving average is $23.77 and its 200 day simple moving average is $23.47.

Life Time Group (NYSE:LTH) last announced its quarterly earnings results 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 net margin of 5.67% and a return on equity of 6.42%. The business had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 0.74 EPS for the current fiscal year.

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.