Life Time Group (NYSE:LTH) Shares Gap Up – Here’s What Happened

Life Time Group Holdings, Inc. (NYSE:LTH) gapped up before the market opened on Thursday . The stock had previously closed at $25.07, but opened at $26.40. Life Time Group shares last traded at $25.49, with a volume of 388,789 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on LTH shares. Morgan Stanley lifted their price target on Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Northland Securities increased their price target on shares of Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a report on Friday. 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 price objective for the company. Guggenheim reissued a “buy” rating and set a $32.00 target price (up from $29.00) on shares of Life Time Group in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

Life Time Group Price Performance

The stock has a 50 day moving average price of $23.63 and a 200-day moving average price of $23.27. 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 stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89.

Life Time Group (NYSE:LTH) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The business had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. During the same period in the prior year, the company posted $0.09 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. On average, analysts forecast that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other Life Time Group news, EVP Parham Javaheri sold 168,000 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ritadhwaja Jebens Singh sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the sale, the executive vice president now owns 191,626 shares in the company, valued at $4,790,650. The trade was a 11.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Life Time Group

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in shares of Life Time Group by 146.8% in the third quarter. Jane Street Group LLC now owns 182,054 shares of the company’s stock valued at $4,446,000 after purchasing an additional 108,283 shares during the period. American Century Companies Inc. raised its holdings in shares of Life Time Group by 402.6% in the 2nd quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock worth $1,966,000 after purchasing an additional 83,654 shares during the period. Quadrature Capital Ltd acquired a new position in Life Time Group during the third quarter valued at approximately $697,000. Franklin Resources Inc. acquired a new position in shares of Life Time Group during the 3rd quarter valued at $593,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Life Time Group by 105.8% in the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock valued at $43,000 after buying an additional 906 shares in the last quarter. Institutional investors and hedge funds 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.