Life Time Group (NYSE:LTH) Sees Strong Trading Volume – Here’s Why

Life Time Group Holdings, Inc. (NYSE:LTH) shares saw an uptick in trading volume on Monday . 1,098,550 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 1,479,113 shares.The stock last traded at $29.64 and had previously closed at $30.50.

Analysts Set New Price Targets

LTH has been the topic of a number of recent analyst reports. Guggenheim upped their price target on shares of Life Time Group from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Bank of America set a $40.00 target price on shares of Life Time Group and gave the company a “buy” rating in a report on Monday, March 3rd. BMO Capital Markets set a $28.00 price target on Life Time Group and gave the stock a “hold” rating in a research note on Friday, March 14th. The Goldman Sachs Group raised their price objective on Life Time Group from $22.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company set a $28.00 target price on Life Time Group and gave the stock a “hold” rating in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.62.

Life Time Group Price Performance

The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 43.76, a PEG ratio of 0.81 and a beta of 1.93. 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’s 50 day simple moving average is $30.60 and its 200-day simple moving average is $26.38.

Insider Buying and Selling

In other Life Time Group news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the sale, the executive vice president now directly owns 191,626 shares of the company’s stock, valued at approximately $4,790,650. This trade represents a 11.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bahram Akradi sold 5,000,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $30.13, for a total transaction of $150,650,000.00. Following the transaction, the chief executive officer now directly owns 2,993,849 shares of the company’s stock, valued at approximately $90,204,670.37. This represents a 62.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,082,147 shares of company stock worth $152,891,556. 8.70% of the stock is owned by insiders.

Institutional Trading of Life Time Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new stake in Life Time Group during the fourth quarter valued at about $33,000. R Squared Ltd purchased a new stake in shares of Life Time Group during the 4th quarter worth about $42,000. Sterling Capital Management LLC increased its position in Life Time Group by 892.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,025 shares of the company’s stock worth $45,000 after purchasing an additional 1,821 shares in the last quarter. Quarry LP raised its holdings in Life Time Group by 240.4% in the fourth quarter. Quarry LP now owns 2,335 shares of the company’s stock valued at $52,000 after buying an additional 1,649 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Life Time Group during the third quarter valued at approximately $60,000. 79.40% of the stock is currently owned by institutional investors and hedge funds.

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.