Life Time Group (NYSE:LTH) Sets New 52-Week High Following Analyst Upgrade

Life Time Group Holdings, Inc. (NYSE:LTH)’s stock price reached a new 52-week high on Thursday after Mizuho raised their price target on the stock from $32.00 to $38.00. Mizuho currently has an outperform 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 changing hands. The stock had previously closed at $28.30.

Several other equities analysts have also weighed in on LTH. Guggenheim restated a “buy” rating and set a $32.00 target price (up previously from $29.00) on shares of Life Time Group in a report on Friday, January 17th. Craig Hallum boosted their price objective on Life Time Group from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on 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. Evercore ISI began coverage on Life Time Group in a research report on Friday, November 22nd. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Oppenheimer increased their price objective on shares of Life Time Group from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Life Time Group currently has an average rating of “Moderate Buy” and an average price target of $31.77.

Insider Transactions at Life Time Group

In other news, EVP Parham Javaheri sold 168,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $24.57, for a total value of $4,127,760.00. Following the transaction, the executive vice president now directly owns 243,938 shares in the company, valued at approximately $5,993,556.66. This trade represents a 40.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.00, for a total transaction of $1,360,688.00. Following the sale, the executive vice president now directly owns 143,030 shares of the company’s stock, valued at approximately $4,004,840. This represents a 25.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,596 shares of company stock valued at $6,113,448. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

A number of large investors have recently bought and sold shares of LTH. American Century Companies Inc. lifted its holdings in shares of Life Time Group by 402.6% in the 2nd quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock worth $1,966,000 after purchasing an additional 83,654 shares during the last quarter. Amalgamated Bank lifted its stake in Life Time Group by 38.2% in the second quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after buying an additional 563 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Life Time Group during the second quarter valued at $192,000. Canada Pension Plan Investment Board grew its position in shares of Life Time Group by 8.4% during the second quarter. Canada Pension Plan Investment Board now owns 99,500 shares of the company’s stock worth $1,874,000 after acquiring an additional 7,700 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Life Time Group by 61.2% in the 2nd quarter. Sei Investments Co. now owns 20,683 shares of the company’s stock worth $389,000 after acquiring an additional 7,849 shares during the period. Institutional investors own 79.40% of the company’s stock.

Life Time Group Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average is $23.95 and its two-hundred day moving average is $23.54. The stock has a market capitalization of $5.93 billion, a P/E ratio of 41.56, a P/E/G ratio of 0.71 and a beta of 1.89.

Life Time Group (NYSE:LTH) last posted its earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $684.13 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.