close
close
Sun. Jul 14th, 2024

Life Time Group (NYSE:LTH) shares rise 8.6%

By Vaseline May31,2024

The shares of Life Time Group Holdings, Inc. (NYSE:LTH – Get Free Report) rose 8.6% on Thursday. The company traded as high as $16.96 and last traded at $16.79. About 635,530 shares traded during midday trading, down 18% from average daily volume of 774,900 shares. The stock previously closed at $15.46.

Wall Street analysts predict growth

LTH has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on shares of Life Time Group from $16.00 to $15.00 and set an “equalweight” rating on the stock in a report on Thursday, May 2. Royal Bank of Canada lifted their price objective on shares of Life Time Group from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29. Mizuho raised their target price on shares of Life Time Group from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, May 6. Finally, Northland Securities began coverage on Life Time Group in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $23.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price of $20.57.

Get our latest analysis on Life Time Group

Life Time Group trading rises 6.7%

The company has a 50-day simple moving average of $14.82 and a 200-day simple moving average of $14.42. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 45.11, a price-to-earnings ratio of 9.52, and a beta of 1.76. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.31 and a current ratio of 0.43.

Life Time Group (NYSE:LTH – Get Free Report) last released its quarterly earnings data on Wednesday, May 1. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $596.72 million during the quarter, compared to analyst estimates of $588.57 million. Life Time Group had a net margin of 3.19% and a return on equity of 4.38%. On average, stock analysts predict that Life Time Group Holdings, Inc. will post a profit per share of 0.46 for the current financial year.

Insider buying and selling at Life Time Group

In other Life Time Group news, EVP Ritadhwaja Jebens Singh sold 10,828 shares of Life Time Group stock in a transaction that occurred on Friday, March 1st. The shares sold at an average price of $13.61, for a total transaction of $147,369.08. Following the completion of the sale, the executive vice president now directly owns 201,521 shares of the company’s stock, valued at $2,742,700.81. The sale was disclosed in a document filed with the SEC and available on the SEC website. Insiders own 12.50% of the company’s shares.

Institutional inflow and outflow

Major investors have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in shares of Life Time Group in the third quarter worth approximately $217,000. Arizona State Retirement System increased its stake in shares of Life Time Group by 21.8% in the third quarter. Arizona State Retirement System now owns 16,660 shares of the company’s stock valued at $253,000 after purchasing an additional 2,982 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Life Time Group by 50.9% in the third quarter. New York State Common Retirement Fund now owns 59,176 shares of the company’s stock worth $900,000 after purchasing an additional 19,950 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Life Time Group by 120.6% in the third quarter. Quantbot Technologies LP now owns 24,068 shares of the company’s stock worth $366,000 after purchasing an additional 13,156 shares during the period. Finally, the Swiss National Bank increased its stake in Life Time Group shares by 21.3% in the third quarter. Swiss National Bank now owns 128,600 shares of the company’s stock worth $1,956,000 after purchasing an additional 22,600 shares during the period. 79.40% of the shares are owned by hedge funds and other institutional investors.

About Life Time Group

(Get a free report)

Life Time Group Holdings, Inc provides health, fitness and wellness experiences to a community of individual members in the United States and Canada. It is primarily engaged in the design, construction and operation of sports and athletics, professional fitness, family recreation and spa centers in a resort-style environment, primarily in suburban and urban locations of metropolitan areas.

Recommended articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

Before you consider Life Time Group, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients every day. MarketBeat has identified the five stocks that top analysts are quietly urging their clients to buy now before the broader market takes hold… and Life Time Group wasn’t on the list.

While Life Time Group currently has a “Moderate Buy” rating among analysts, top analysts believe these five stocks are better buys.

View the five stocks here

7 stocks that could be bigger than Tesla, Nvidia and Google Cover

Growth stocks offer great value, and we have the following rising superstars you should definitely consider for your portfolio.

Get this free report

Related Post