Life Time Group (NYSE:LTH) Hits New 12-Month High – What’s Next?

Shares of Life Time Group Holdings, Inc. (NYSE:LTH) reached a new 52-week high on Tuesday . The company traded as high as $35.33 and last traded at $34.8990, with a volume of 1630713 shares. The stock had previously closed at $34.25.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LTH. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective on shares of Life Time Group in a research report on Wednesday, May 6th. Morgan Stanley boosted their price target on shares of Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. UBS Group reaffirmed a “buy” rating and set a $43.00 target price on shares of Life Time Group in a report on Thursday, March 12th. Wells Fargo & Company increased their price target on Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Mizuho upped their price objective on Life Time Group from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.80.

Life Time Group Trading Up 1.9%

The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $7.77 billion, a P/E ratio of 20.41, a PEG ratio of 1.42 and a beta of 1.55. The business has a 50 day moving average of $30.73 and a 200-day moving average of $28.53.

Life Time Group (NYSE:LTH) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. The company had revenue of $788.70 million during the quarter, compared to analysts’ expectations of $787.65 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Life Time Group Holdings, Inc. will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Partners Group Private Equity sold 329,921 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $28.60, for a total transaction of $9,435,740.60. Following the completion of the transaction, the insider directly owned 1,651,322 shares of the company’s stock, valued at $47,227,809.20. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Kristofer Galashan sold 2,208,580 shares of Life Time Group stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $28.60, for a total value of $63,165,388.00. Following the completion of the sale, the director directly owned 11,027,703 shares in the company, valued at approximately $315,392,305.80. This represents a 16.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,876,110 shares of company stock valued at $854,609,979. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of Life Time Group by 129.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock valued at $160,868,000 after acquiring an additional 3,286,229 shares in the last quarter. Bank of America Corp DE grew its stake in Life Time Group by 102.1% in the third quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after purchasing an additional 2,156,033 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Life Time Group by 41.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after purchasing an additional 2,091,712 shares during the last quarter. Norges Bank bought a new stake in shares of Life Time Group during the 4th quarter worth approximately $49,228,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Life Time Group by 2,328.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock valued at $56,175,000 after buying an additional 1,775,837 shares during the last quarter. 79.40% of the stock is owned by institutional investors.

Life Time Group Company Profile

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.