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

Key Points

• Life Time Group (NYSE:LTH) hit a new 52-week high, trading as high as $43.40 after finishing the prior session at $42.15. The stock was up about 2.7% on heavy volume.
• Recent analyst sentiment has been bullish, with several firms raising price targets, including Jefferies to $51 and Northland to $48. The stock currently carries a Moderate Buy consensus and an average target price of $44.73.
• The company’s latest earnings beat expectations, reporting $0.42 EPS versus $0.39 expected on revenue of $788.7 million, up 11.7% year over year. Despite some insider selling, institutional ownership remains high at 79.4%.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.40 and last traded at $42.6340, with a volume of 2461232 shares changing hands. The stock had previously closed at $42.15.

Analyst Ratings Changes

LTH has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Life Time Group from $41.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Jefferies Financial Group increased their price target on Life Time Group from $41.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Northland Securities lifted their price target on Life Time Group from $43.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 24th. Guggenheim boosted 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. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $37.00 price objective on shares of Life Time Group in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Life Time Group currently has an average rating of "Moderate Buy" and a consensus target price of $44.73.

Life Time Group Trading Up 2.7%

The company has a 50-day simple moving average of $36.36 and a 200-day simple moving average of $30.79. The stock has a market cap of $9.63 billion, a P/E ratio of 25.21, a P/E/G ratio of 1.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.53.

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

Insider Buying and Selling

In related news, major shareholder Partners Group Private Equity sold 329,921 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $28.60, for a total value of $9,435,740.60. Following the sale, the insider directly owned 1,651,322 shares in the company, valued at $47,227,809.20. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jimena Almendares sold 40,589 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $33.59, for a total value of $1,363,384.51. Following the transaction, the director owned 36,983 shares of the company's stock, valued at $1,242,258.97. The trade was a 52.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,943,861 shares of company stock worth $857,228,555 over the last quarter. Insiders own 13.30% of the company's stock.

Institutional Trading of Life Time Group

A number of institutional investors and hedge funds have recently bought and sold shares of LTH. Kestra Advisory Services LLC lifted its position in shares of Life Time Group by 4.0% during the fourth quarter. Kestra Advisory Services LLC now owns 10,950 shares of the company's stock worth $291,000 after purchasing an additional 420 shares during the last quarter. Harbour Investments Inc. boosted its position in Life Time Group by 8.8% during the 4th quarter. Harbour Investments Inc. now owns 6,387 shares of the company's stock valued at $170,000 after purchasing an additional 516 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Life Time Group by 49.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company's stock valued at $48,000 after acquiring an additional 587 shares during the period. Strs Ohio grew its position in Life Time Group by 10.0% in the 4th quarter. Strs Ohio now owns 6,600 shares of the company's stock worth $175,000 after purchasing an additional 600 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Life Time Group by 13.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,119 shares of the company's stock worth $163,000 after buying an additional 717 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

About Life Time Group

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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