Life Time Group (NYSE:LTH) Hits New 12-Month High at $25.67

Life Time Group Holdings, Inc. (NYSE:LTH)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.67 and last traded at $25.40, with a volume of 323000 shares trading hands. The stock had previously closed at $25.05.

Wall Street Analysts Forecast Growth

Several research firms have commented on LTH. Wells Fargo & Company upped their price objective on shares of Life Time Group from $15.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price target on shares of Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Northland Securities boosted their price objective on Life Time Group from $27.00 to $28.50 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Bank of America increased their target price on Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Craig Hallum started coverage on Life Time Group in a report on Friday, July 19th. They set a “buy” rating and a $30.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

Life Time Group Price Performance

The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average price is $22.78 and its 200 day moving average price is $18.26. The company has a market capitalization of $5.05 billion, a P/E ratio of 69.64, a PEG ratio of 3.03 and a beta of 1.87.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $667.80 million for the quarter, compared to analyst estimates of $634.92 million. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. As a group, sell-side analysts forecast that Life Time Group Holdings, Inc. will post 0.56 EPS for the current year.

Insider Activity at Life Time Group

In other news, Director John G. Danhakl sold 3,575,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total transaction of $74,646,000.00. Following the completion of the sale, the director now owns 55,166,700 shares of the company’s stock, valued at approximately $1,151,880,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Partners Group Private Equity sold 650,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $13,572,000.00. Following the sale, the insider now directly owns 5,929,348 shares of the company’s stock, valued at $123,804,786.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Danhakl sold 3,575,000 shares of Life Time Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $74,646,000.00. Following the completion of the transaction, the director now owns 55,166,700 shares in the company, valued at approximately $1,151,880,696. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Life Time Group

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank lifted its stake in shares of Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after acquiring an additional 563 shares during the last quarter. Dnca Finance acquired a new stake in shares of Life Time Group during the second quarter valued at about $72,000. SG Americas Securities LLC bought a new stake in shares of Life Time Group during the second quarter worth about $141,000. Hsbc Holdings PLC acquired a new position in Life Time Group in the 2nd quarter valued at approximately $192,000. Finally, Entropy Technologies LP acquired a new stake in Life Time Group in the first quarter valued at $198,000. 79.40% of the stock is currently owned by institutional investors and hedge funds.

Life Time Group Company Profile

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.