Life Time Group (NYSE:LTH) Sets New 52-Week High – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.59 and last traded at $32.37, with a volume of 115304 shares changing hands. The stock had previously closed at $32.34.

Analyst Upgrades and Downgrades

LTH has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Life Time Group in a research note on Friday, January 17th. Evercore ISI assumed coverage on Life Time Group in a research note on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price objective for the company. Wells Fargo & Company boosted their target price on Life Time Group from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Mizuho boosted their target price on Life Time Group from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Craig Hallum boosted their target price on Life Time Group from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.77.

Life Time Group Stock Performance

The company has a market cap of $6.75 billion, a price-to-earnings ratio of 47.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.94. The firm has a 50-day simple moving average of $26.48 and a 200 day simple moving average of $24.94. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other news, EVP Parham Javaheri sold 168,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the completion of the sale, the executive vice president now owns 243,938 shares in the company, valued at $5,993,556.66. This represents a 40.78 % 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 link. Also, CFO Erik Weaver sold 1,741 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total value of $51,568.42. Following the sale, the chief financial officer now owns 96,361 shares of the company’s stock, valued at $2,854,212.82. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,147 shares of company stock valued at $6,369,316 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several large investors have recently modified their holdings of the stock. Dnca Finance raised its stake in shares of Life Time Group by 11.9% during the fourth quarter. Dnca Finance now owns 3,830 shares of the company’s stock worth $85,000 after purchasing an additional 407 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Life Time Group by 12.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,478 shares of the company’s stock worth $143,000 after purchasing an additional 712 shares during the last quarter. Bank of New York Mellon Corp raised its position in Life Time Group by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 219,915 shares of the company’s stock worth $4,865,000 after acquiring an additional 788 shares in the last quarter. Farther Finance Advisors LLC raised its position in Life Time Group by 105.8% in the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after acquiring an additional 906 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in 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 acquiring an additional 911 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

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.