Life Time Group (NYSE:LTH) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Life Time Group Holdings, Inc. (NYSE:LTH) saw unusually-strong 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. Approximately 1,980,845 shares were traded during mid-day 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.

Several other research analysts have also recently weighed in on the stock. Craig Hallum lifted their price target on shares of Life Time Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer raised their target price on shares of Life Time Group from $33.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Mizuho increased their price objective on shares of Life Time Group from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Evercore ISI began coverage on Life Time Group in a research note on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Life Time Group presently has an average rating of “Moderate Buy” and an average target price of $32.68.

Insider Activity at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 1,741 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $29.62, for a total transaction of $51,568.42. Following the transaction, the chief financial officer now owns 96,361 shares in the company, valued at $2,854,212.82. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $28.00, for a total transaction of $1,360,688.00. Following the completion of the sale, the executive vice president now owns 143,030 shares of the company’s stock, valued at $4,004,840. This trade represents a 25.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,147 shares of company stock valued at $2,241,556 over the last 90 days. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Life Time Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of Life Time Group by 105.8% during 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 during the last quarter. Principal Financial Group Inc. boosted its holdings in Life Time Group by 1.3% during the 3rd 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. Assetmark Inc. grew its position in Life Time Group by 8.5% in the 3rd quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock valued at $294,000 after acquiring an additional 941 shares during the last quarter. Peregrine Asset Advisers Inc. increased its stake in Life Time Group by 55.2% in the third quarter. Peregrine Asset Advisers Inc. now owns 258,251 shares of the company’s stock worth $6,306,000 after purchasing an additional 91,799 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Life Time Group during the third quarter worth $912,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

Life Time Group Price Performance

The stock’s 50 day moving average price is $27.69 and its 200-day moving average price is $25.33. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $6.30 billion, a PE ratio of 44.12, a price-to-earnings-growth 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.