Life Time Group (NYSE:LTH) Reaches New 1-Year High – Here’s Why

Shares of Life Time Group Holdings, Inc. (NYSE:LTH) reached a new 52-week high on Monday . The stock traded as high as $42.30 and last traded at $41.8070, with a volume of 1562388 shares. The stock had previously closed at $41.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LTH shares. Royal Bank Of Canada lifted their price objective 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. Oppenheimer upped their target price on shares of Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Jefferies Financial Group upped their target price on shares of Life Time Group from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Mizuho raised their target price on shares of Life Time Group from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Guggenheim lifted their price target on shares of Life Time Group from $36.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Life Time Group Trading Up 0.4%

The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $35.78 and its 200-day moving average is $30.46. The company has a market cap of $9.26 billion, a PE ratio of 24.34, a P/E/G ratio of 1.71 and a beta of 1.51.

Life Time Group (NYSE:LTH) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $788.70 million during the quarter, compared to analysts’ expectations of $787.65 million. During the same period last year, the company posted $0.39 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side 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 Life Time Group news, Director John G. Danhakl sold 4,991,749 shares of the company’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 transaction of $157,040,423.54. Following the sale, the director directly owned 16,242,383 shares in the company, valued at $510,985,369.18. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Kristofer Galashan 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 sale, the director directly owned 16,242,383 shares of the company’s stock, valued at $510,985,369.18. The trade was a 23.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 27,943,861 shares of company stock valued at $857,228,555. Insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Large investors have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its holdings in Life Time Group by 138.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock valued at $2,589,000 after buying an additional 36,800 shares during the period. GAMMA Investing LLC boosted its stake in Life Time Group by 36.6% during the second quarter. GAMMA Investing LLC now owns 3,844 shares of the company’s stock worth $157,000 after buying an additional 1,029 shares during the period. Avior Wealth Management LLC purchased a new position in Life Time Group during the second quarter worth $459,000. Versant Capital Management Inc increased its position in Life Time Group by 286.7% during the second quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock valued at $74,000 after acquiring an additional 1,339 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Life Time Group by 49.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company’s stock valued at $48,000 after acquiring an additional 587 shares during the last quarter. 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.