Life Time Group (NYSE:LTH) Hits New 52-Week High – Here’s Why

Life Time Group Holdings, Inc. (NYSE:LTH)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $30.00 and last traded at $29.60, with a volume of 2339669 shares changing hands. The stock had previously closed at $28.87.

Analyst Ratings Changes

LTH has been the topic of a number of recent research reports. Northland Securities boosted their price objective on Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Mizuho boosted their price target on shares of Life Time Group from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Guggenheim restated a “buy” rating and set a $32.00 price objective (up from $29.00) on shares of Life Time Group in a research report on Friday, January 17th. Evercore ISI began coverage on shares of Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Life Time Group currently has a consensus rating of “Moderate Buy” and an average price target of $31.77.

Life Time Group Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 0.71 and a beta of 1.89. The stock has a 50 day moving average price of $24.14 and a two-hundred day moving average price of $23.74.

Insider Buying and Selling at Life Time Group

In other Life Time Group news, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $28.00, for a total value of $1,360,688.00. Following the completion of the transaction, the executive vice president now owns 143,030 shares in the company, valued at $4,004,840. The trade was a 25.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total value of $4,127,760.00. Following the sale, the executive vice president now directly owns 243,938 shares in the company, valued at $5,993,556.66. This represents a 40.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,596 shares of company stock valued at $6,113,448 in the last three months. 12.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Life Time Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in Life Time Group by 38.2% in the second quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock valued at $38,000 after acquiring an additional 563 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Life Time Group in the 2nd quarter valued at $192,000. Sei Investments Co. lifted its position in shares of Life Time Group by 61.2% during the 2nd quarter. Sei Investments Co. now owns 20,683 shares of the company’s stock worth $389,000 after purchasing an additional 7,849 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Life Time Group during the second quarter worth $483,000. Finally, AQR Capital Management LLC increased its holdings in Life Time Group by 22.4% in the second quarter. AQR Capital Management LLC now owns 65,349 shares of the company’s stock valued at $1,231,000 after buying an additional 11,967 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

About Life Time Group

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.