Life Time Group (NYSE:LTH) Reaches New 1-Year High After Analyst Upgrade

Life Time Group Holdings, Inc. (NYSE:LTH)’s share price hit a new 52-week high during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $26.00 to $28.00. Wells Fargo & Company currently has an equal weight rating on the stock. Life Time Group traded as high as $27.26 and last traded at $26.59, with a volume of 4958058 shares traded. The stock had previously closed at $25.07.

LTH has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI assumed coverage on Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price objective on the stock. Northland Securities increased their target price on Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research note on Friday. Finally, Guggenheim restated a “buy” rating and issued a $32.00 price target (up from $29.00) on shares of Life Time Group in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.75.

Insider Transactions at Life Time Group

In related news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the sale, the executive vice president now directly owns 191,626 shares of the company’s stock, valued at approximately $4,790,650. This trade represents a 11.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the company’s 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 transaction, the executive vice president now directly owns 243,938 shares of the company’s stock, valued at $5,993,556.66. This trade represents a 40.78 % decrease in their position. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Life Time Group by 146.8% in the third quarter. Jane Street Group LLC now owns 182,054 shares of the company’s stock worth $4,446,000 after acquiring an additional 108,283 shares in the last quarter. American Century Companies Inc. boosted its position in Life Time Group by 402.6% during 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 period. Quadrature Capital Ltd acquired a new stake in Life Time Group in the 3rd quarter valued at $697,000. Franklin Resources Inc. purchased a new position in Life Time Group in the third quarter valued at about $593,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Life Time Group by 105.8% during the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after purchasing an additional 906 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors and hedge funds.

Life Time Group Price 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 company has a market cap of $5.73 billion, a PE ratio of 40.10, a P/E/G ratio of 1.02 and a beta of 1.89. The company has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $23.30.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Sell-side analysts expect that Life Time Group Holdings, Inc. will post 0.56 earnings per share 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.