Life Time Group (NYSE:LTH) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Life Time Group Holdings, Inc. (NYSE:LTH) saw an uptick in trading volume on Friday after Guggenheim raised their price target on the stock from $32.00 to $36.00. Guggenheim currently has a buy rating on the stock. 1,980,845 shares changed hands during trading, an increase of 7% from the previous session’s volume of 1,856,148 shares.The stock last traded at $30.48 and had previously closed at $31.30.

LTH has been the subject of a number of other research reports. Oppenheimer lifted their target price on Life Time Group from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Evercore ISI initiated coverage on Life Time Group in a research report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 target price for the company. Craig Hallum upped their target price on shares of Life Time Group from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Life Time Group from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Morgan Stanley boosted their price objective on shares of Life Time Group from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Life Time Group has an average rating of “Moderate Buy” and an average price target of $32.68.

Insiders Place Their Bets

In other Life Time Group news, CFO Erik Weaver sold 1,741 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total value of $51,568.42. Following the completion of the sale, the chief financial officer now owns 96,361 shares in the company, valued at $2,854,212.82. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of Life Time Group stock in a transaction dated 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 transaction, the executive vice president now directly owns 143,030 shares in the company, valued at approximately $4,004,840. The trade was a 25.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,147 shares of company stock worth $2,241,556. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Life Time Group by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,190,447 shares of the company’s stock valued at $114,809,000 after buying an additional 147,295 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Life Time Group by 1.3% during the third quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company’s stock valued at $89,045,000 after acquiring an additional 46,710 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Life Time Group by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 3,569,214 shares of the company’s stock worth $87,160,000 after acquiring an additional 356,255 shares during the period. Loomis Sayles & Co. L P raised its stake in Life Time Group by 12.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 3,425,925 shares of the company’s stock valued at $75,781,000 after purchasing an additional 375,672 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in Life Time Group by 5.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,955,669 shares of the company’s stock worth $65,379,000 after purchasing an additional 145,002 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.

Life Time Group Stock Down 2.7 %

The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The company has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $25.27. The firm has a market capitalization of $6.30 billion, a P/E ratio of 44.12, a P/E/G ratio of 0.81 and a beta of 1.94.

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.