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

Life Time Group Holdings, Inc. (NYSE:LTH)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.67, but opened at $27.09. Life Time Group shares last traded at $25.58, with a volume of 375,352 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on LTH. The Goldman Sachs Group raised their target price on Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price target on shares of Life Time Group from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Life Time Group from $21.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday. Craig Hallum began coverage on Life Time Group in a report on Friday, July 19th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Bank of America boosted their price target on shares of Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Life Time Group currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Life Time Group Stock Performance

The stock has a fifty day moving average price of $24.20 and a 200-day moving average price of $19.66. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.77. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 71.11, a price-to-earnings-growth ratio of 3.20 and a beta of 1.87.

Life Time Group (NYSE:LTH) last issued its earnings results on Thursday, August 1st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.10. Life Time Group had a net margin of 4.54% and a return on equity of 5.36%. The business had revenue of $667.80 million for the quarter, compared to the consensus estimate of $634.92 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts expect that Life Time Group Holdings, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at Life Time Group

In other Life Time Group news, major shareholder Partners Group Private Equity sold 650,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $13,572,000.00. Following the completion of the sale, the insider now owns 5,929,348 shares of the company’s stock, valued at approximately $123,804,786.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Life Time Group news, Director John G. Danhakl sold 3,575,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $74,646,000.00. Following the sale, the director now owns 55,166,700 shares of the company’s stock, valued at approximately $1,151,880,696. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Partners Group Private Equity sold 650,000 shares of Life Time Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $13,572,000.00. Following the transaction, the insider now directly owns 5,929,348 shares of the company’s stock, valued at $123,804,786.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Life Time Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,479,496 shares of the company’s stock worth $100,562,000 after purchasing an additional 78,290 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Life Time Group by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,658,902 shares of the company’s stock worth $87,728,000 after purchasing an additional 770,766 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of Life Time Group by 44.0% in the second quarter. Hood River Capital Management LLC now owns 1,811,841 shares of the company’s stock valued at $34,117,000 after buying an additional 553,881 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Life Time Group by 66.7% during the second quarter. Millennium Management LLC now owns 1,076,386 shares of the company’s stock valued at $20,268,000 after buying an additional 430,779 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Life Time Group in the 4th quarter worth approximately $14,544,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Life Time Group Company Profile

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.