Life Time Group (NYSE:LTH) Reaches New 12-Month High – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH) reached a new 52-week high during trading on Friday . The stock traded as high as $27.26 and last traded at $26.59, with a volume of 4958058 shares changing hands. The stock had previously closed at $25.07.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI initiated coverage on shares of Life Time Group in a research note on Friday, November 22nd. They set an “outperform” rating and a $29.00 price target for the company. Morgan Stanley boosted their target price on shares of Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Northland Securities boosted their price objective on Life Time Group from $28.50 to $29.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on Life Time Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.89.

Life Time Group Trading Up 6.1 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46. The firm’s 50 day moving average price is $23.54 and its 200 day moving average price is $23.19. The stock has a market capitalization of $5.50 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.02 and a beta of 1.89.

Life Time Group (NYSE:LTH) last announced its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $693.20 million for the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. Life Time Group’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. As a group, equities research analysts expect that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Life Time Group news, EVP Parham Javaheri sold 168,000 shares of Life Time Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $24.57, for a total value of $4,127,760.00. Following the completion of the sale, the executive vice president now owns 243,938 shares of the company’s stock, valued at approximately $5,993,556.66. The trade was a 40.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ritadhwaja Jebens Singh sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the sale, the executive vice president now owns 191,626 shares of the company’s stock, valued at approximately $4,790,650. This represents a 11.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Life Time Group

Several large investors have recently modified their holdings of LTH. Park Avenue Securities LLC bought a new stake in shares of Life Time Group during the 4th quarter valued at about $542,000. Moody National Bank Trust Division boosted its holdings in shares of Life Time Group by 1.0% in the fourth quarter. Moody National Bank Trust Division now owns 92,101 shares of the company’s stock worth $2,037,000 after buying an additional 911 shares during the last quarter. JPMorgan Chase & Co. grew its position in Life Time Group by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 3,569,214 shares of the company’s stock valued at $87,160,000 after buying an additional 356,255 shares during the period. Principal Financial Group Inc. increased its holdings in Life Time Group by 1.3% during the third quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company’s stock valued at $89,045,000 after buying an additional 46,710 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Life Time Group in the third quarter worth approximately $31,575,000. Institutional investors own 79.40% of the company’s stock.

About Life Time Group

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.