Life Time Group (NYSE:LTH) Hits New 1-Year High - Here's Why

Key Points

• Life Time Group hit a new 52-week high, with shares trading as high as $35.33 as investors pushed the stock above its previous close of $34.25.
• Analysts remain constructive on the company, with recent target hikes from firms including Morgan Stanley, Wells Fargo, Guggenheim, and RBC; the consensus rating is Moderate Buy with a target price of $40.80.
• The company reported better-than-expected quarterly results, including EPS of $0.42 versus $0.39 expected and revenue up 11.7% year over year, though insiders have also sold a significant amount of stock in recent months.

Shares of Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $35.33 and last traded at $34.8990, with a volume of 1630713 shares trading hands. The stock had previously closed at $34.25.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Life Time Group from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on Life Time Group from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. KeyCorp started coverage on Life Time Group in a report on Thursday, March 12th. They issued an "overweight" rating and a $40.00 target price on the stock. Guggenheim increased their price objective on Life Time Group from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Monday. Finally, Royal Bank Of Canada upped their target price on shares of Life Time Group from $38.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Life Time Group Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.42 and a beta of 1.55. The stock has a fifty day moving average price of $30.73 and a 200-day moving average price of $28.53.

Life Time Group (NYSE:LTH - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The firm had revenue of $788.70 million during the quarter, compared to analyst estimates of $787.65 million. During the same period in the prior year, the company posted $0.39 earnings per share. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Life Time Group Holdings, Inc. will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling 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 dated Thursday, May 7th. The shares were 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 of the company's stock, valued at approximately $510,985,369.18. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Kristofer Galashan sold 4,991,749 shares of Life Time Group stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $31.46, for a total transaction of $157,040,423.54. Following the completion of the transaction, the director owned 16,242,383 shares of the company's stock, valued at $510,985,369.18. This trade represents a 23.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,876,110 shares of company stock worth $854,609,979 over the last ninety days. Corporate insiders own 13.30% of the company's stock.

Institutional Trading of Life Time Group

A number of hedge funds and other institutional investors have recently made changes to their positions in LTH. Royal Bank of Canada lifted its position in Life Time Group by 140.4% during the 1st quarter. Royal Bank of Canada now owns 54,380 shares of the company's stock worth $1,642,000 after buying an additional 31,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Life Time Group by 25.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,855 shares of the company's stock worth $2,140,000 after acquiring an additional 14,267 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Life Time Group by 143.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,422,304 shares of the company's stock worth $73,154,000 after purchasing an additional 1,428,446 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Life Time Group during the first quarter valued at approximately $221,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Life Time Group by 47.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,287 shares of the company's stock valued at $6,018,000 after purchasing an additional 64,348 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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