Life Time Group (NYSE:LTH) Sees Strong Trading Volume After Analyst Upgrade

Life Time Group Holdings, Inc. (NYSE:LTH) saw strong trading volume on Friday after Guggenheim raised their price target on the stock from $32.00 to $36.00. Guggenheim currently has a buy rating on the stock. 1,980,845 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 1,856,148 shares.The stock last traded at $30.48 and had previously closed at $31.30.

LTH has been the topic of a number of other reports. Northland Securities raised their price objective on Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley lifted their price target on shares of Life Time Group from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday. Oppenheimer boosted their price objective on shares of Life Time Group from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Mizuho increased their target price on shares of Life Time Group from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Craig Hallum boosted their price target on shares of Life Time Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.68.

Insiders Place Their Bets

In other news, EVP Ritadhwaja Jebens Singh sold 6,810 shares of Life Time Group stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $30.00, for a total transaction of $204,300.00. Following the sale, the executive vice president now owns 136,220 shares of the company’s stock, valued at approximately $4,086,600. The trade was a 4.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Erik Weaver sold 1,741 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total transaction of $51,568.42. Following the completion of the sale, the chief financial officer now owns 96,361 shares of the company’s stock, valued at $2,854,212.82. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,147 shares of company stock valued at $2,241,556 in the last quarter. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LTH. Blue Trust Inc. grew its stake in Life Time Group by 345.5% in the third quarter. Blue Trust Inc. now owns 2,940 shares of the company’s stock worth $72,000 after purchasing an additional 2,280 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Life Time Group by 105.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after acquiring an additional 906 shares in the last quarter. Principal Financial Group Inc. lifted its position in Life Time Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company’s stock valued at $89,045,000 after acquiring an additional 46,710 shares during the period. Assetmark Inc. boosted its stake in Life Time Group by 8.5% during the third quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock worth $294,000 after acquiring an additional 941 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. grew its holdings in Life Time Group by 55.2% in the third quarter. Peregrine Asset Advisers Inc. now owns 258,251 shares of the company’s stock worth $6,306,000 after purchasing an additional 91,799 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Life Time Group Stock Down 2.7 %

The stock’s 50 day simple moving average is $27.53 and its two-hundred day simple moving average is $25.27. The firm has a market cap of $6.30 billion, a P/E ratio of 44.12, a P/E/G ratio of 0.81 and a beta of 1.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46.

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.