Morgan Stanley Boosts Life Time Group (NYSE:LTH) Price Target to $38.00

Life Time Group (NYSE:LTH) had its price target raised by equities research analysts at Morgan Stanley from $37.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 36.69% from the stock’s current price.

Other equities analysts have also issued reports about the company. Northland Securities set a $42.00 target price on Life Time Group in a research report on Friday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $36.00 price target on shares of Life Time Group in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Life Time Group in a report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Life Time Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.85.

Life Time Group Stock Down 4.0%

Shares of NYSE:LTH traded down $1.15 during trading on Monday, hitting $27.80. The company’s stock had a trading volume of 392,272 shares, compared to its average volume of 2,177,767. The company has a market capitalization of $6.13 billion, a PE ratio of 21.53, a PEG ratio of 0.76 and a beta of 1.68. Life Time Group has a fifty-two week low of $24.14 and a fifty-two week high of $34.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.67. The stock’s 50-day moving average price is $28.01 and its two-hundred day moving average price is $27.27.

Insider Buying and Selling

In related news, EVP Eric J. Buss sold 74,487 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $28.05, for a total transaction of $2,089,360.35. Following the completion of the transaction, the executive vice president owned 380,683 shares in the company, valued at $10,678,158.15. The trade was a 16.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ritadhwaja Jebens Singh sold 5,880 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.31, for a total value of $178,222.80. Following the completion of the sale, the executive vice president owned 102,144 shares in the company, valued at $3,095,984.64. The trade was a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 256,670 shares of company stock worth $7,234,567 over the last quarter. 8.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Life Time Group

Institutional investors have recently modified their holdings of the company. Voya Investment Management LLC raised its stake in shares of Life Time Group by 2,398.6% in the 3rd quarter. Voya Investment Management LLC now owns 1,065,997 shares of the company’s stock worth $29,422,000 after buying an additional 1,023,333 shares in the last quarter. ABN Amro Investment Solutions acquired a new position in Life Time Group during the third quarter worth about $2,535,000. Fisher Asset Management LLC bought a new stake in Life Time Group in the second quarter worth about $43,473,000. AustralianSuper Pty Ltd bought a new stake in Life Time Group in the third quarter worth about $27,260,000. Finally, Divisadero Street Capital Management LP bought a new position in shares of Life Time Group during the 2nd quarter valued at about $5,381,000. Institutional investors 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.