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

Shares of Life Time Group Holdings, Inc. (NYSE:LTH) hit a new 52-week high on Monday . The company traded as high as $41.79 and last traded at $40.5490, with a volume of 9440937 shares. The stock had previously closed at $41.01.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LTH. KeyCorp started coverage on shares of Life Time Group in a research report on Thursday, March 12th. They set an “overweight” rating and a $40.00 target price on the stock. Morgan Stanley lifted their price target on shares of Life Time Group from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Jefferies Financial Group upped their price objective on shares of Life Time Group from $41.00 to $51.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company increased their price objective 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. Finally, Zacks Research downgraded Life Time Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Life Time Group presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Life Time Group Stock Down 1.3%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.53. The stock’s 50 day simple moving average is $32.99 and its 200 day simple moving average is $29.41. The firm has a market cap of $9.08 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55.

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

Insider Activity at Life Time Group

In other news, Director John Kristofer Galashan sold 4,991,749 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $31.46, for a total value of $157,040,423.54. Following the transaction, the director owned 16,242,383 shares in the company, valued at $510,985,369.18. This trade represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John G. Danhakl sold 4,991,749 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $31.46, for a total value of $157,040,423.54. Following the completion of the transaction, the director owned 16,242,383 shares in the company, valued at $510,985,369.18. This represents a 23.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,943,861 shares of company stock valued at $857,228,555. 13.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Life Time Group

A number of hedge funds have recently bought and sold shares of LTH. Vanguard Group Inc. raised its holdings in shares of Life Time Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company’s stock valued at $362,651,000 after purchasing an additional 143,487 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Life Time Group by 15.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock worth $217,929,000 after purchasing an additional 1,068,208 shares during the last quarter. Ameriprise Financial Inc. grew its position in Life Time Group by 41.3% in 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 in the last quarter. Wellington Management Group LLP grew its position in Life Time Group by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock worth $155,852,000 after purchasing an additional 34,964 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after buying an additional 2,156,033 shares during the last quarter. 79.40% of the stock is owned by hedge funds and other 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.