Life Time Group (NYSE:LTH) Hits New 52-Week High – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH) shares reached a new 52-week high on Monday . The stock traded as high as $37.48 and last traded at $36.46, with a volume of 456 shares traded. The stock had previously closed at $36.92.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LTH shares. Wells Fargo & Company increased their target price on shares of Life Time Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on shares of Life Time Group from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. UBS Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Life Time Group in a report on Thursday, March 12th. Morgan Stanley raised their price objective on shares of Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 target price on shares of Life Time Group in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Life Time Group Stock Performance

The firm has a fifty day simple moving average of $31.76 and a 200-day simple moving average of $28.90. 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 stock has a market cap of $8.41 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.54 and a beta of 1.55.

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

Insider Activity at Life Time Group

In other Life Time Group news, Director John G. Danhakl sold 4,991,749 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $157,040,423.54. Following the transaction, the director directly owned 16,242,383 shares in the company, valued at approximately $510,985,369.18. This represents a 23.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Partners Group Private Equity sold 747,178 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $23,506,219.88. Following the transaction, the insider owned 2,431,203 shares in the company, valued at approximately $76,485,646.38. The trade was a 23.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,876,110 shares of company stock worth $854,609,979 over the last 90 days. Insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several institutional investors have recently modified their holdings of LTH. GAMMA Investing LLC grew its holdings in Life Time Group by 144.5% during the 4th quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock worth $32,000 after acquiring an additional 721 shares during the period. Wexford Capital LP acquired a new position in shares of Life Time Group in the 3rd quarter valued at $40,000. EverSource Wealth Advisors LLC lifted its stake in shares of Life Time Group by 201.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock valued at $45,000 after purchasing an additional 1,002 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Life Time Group in the 4th quarter worth $73,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Life Time Group by 74.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,862 shares of the company’s stock worth $76,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.

About Life Time Group

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.