Life Time Group (NYSE:LTH) Reaches New 1-Year High – Time to Buy?

Life Time Group Holdings, Inc. (NYSE:LTH) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.61 and last traded at $44.5860, with a volume of 139864 shares trading hands. The stock had previously closed at $43.76.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LTH. Guggenheim upped their price objective on Life Time Group from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 price target on shares of Life Time Group in a research report on Wednesday, July 22nd. Weiss Ratings raised Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Morgan Stanley upped their price target on Life Time Group from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, Northland Securities raised their price objective on Life Time Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $47.25.

Life Time Group Trading Up 0.6%

The business’s 50-day moving average price is $37.97 and its 200 day moving average price is $31.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.82 and a beta of 1.51.

Life Time Group (NYSE:LTH) last announced its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $866.00 million during the quarter, compared to the consensus estimate of $845.75 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. On average, equities analysts forecast that Life Time Group Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Life Time Group news, Director John G. Danhakl sold 4,991,749 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 16,242,383 shares of the company’s stock, valued at $510,985,369.18. This represents a 23.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Kristofer Galashan sold 4,991,749 shares of the firm’s stock in a transaction dated 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 sale, the director owned 16,242,383 shares of the company’s stock, valued at $510,985,369.18. This represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,943,861 shares of company stock worth $857,228,555 in the last quarter. 13.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life Time Group

A number of institutional investors have recently modified their holdings of LTH. Wellington Management Group LLP raised its stake in Life Time Group by 129.3% during the third quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock valued at $160,868,000 after buying an additional 3,286,229 shares in the last quarter. Bank of America Corp DE lifted its position in Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after purchasing an additional 2,156,033 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Life Time Group by 41.3% during the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock valued at $216,644,000 after buying an additional 2,091,712 shares during the last quarter. Norges Bank bought a new stake in Life Time Group during the 4th quarter valued at $49,228,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Life Time Group by 2,328.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock valued at $56,175,000 after purchasing an additional 1,775,837 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.

Life Time Group Company Profile

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.