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Michael Hirsh

Research Analyst at Wells Fargo & Company/mn

Michael Hirsh is an Equity Research Associate at Wells Fargo, specializing in equity research with a primary focus on companies such as Life Time Group Holdings. He has issued multiple ratings for Life Time Group Holdings, maintaining an 'Equal-Weight' recommendation while adjusting price targets, though recent performance metrics show stock returns of -7% to -30% on rated calls. His recent career timeline includes experience at Wells Fargo, with prior roles at other firms and a subsequent move to JP Morgan & Co within his first year in the field. He holds credentials typical for analyst roles, such as FINRA registration and securities licenses, reflecting his compliance and standing within the industry.

Michael Hirsh's questions to Life Time Group Holdings (LTH) leadership

Question · Q4 2024

Michael Hirsh from Wells Fargo inquired about the objectives for the planned summer Investor Day, asking if it would include new long-term financial targets. He also asked about the monetization strategy for the LT Digital app.

Answer

CEO Bahram Akradi stated the Investor Day is intended to unveil new, asset-light growth opportunities built around the Life Time brand, particularly its digital platform. He explained that the LT Digital app will be monetized through an ecosystem that includes nutritional supplement sales (LTH), athletic event registration, and other health and wellness services, guided by an AI companion named "Lacy."

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Question · Q3 2024

Michael Hirsh asked how to think about the 4-5% growth target for ramped centers in 2025, given 2024's outperformance, and questioned the reason for only seven new openings in 2024 versus the 10-12 target.

Answer

EVP and CFO Erik Weaver confirmed the 4-5% growth rate for mature centers remains the long-term model and expects performance to normalize to that range in 2025. Founder, Chairman and CEO Bahram Akradi explained that the lower number of 2024 openings was due to project delays, with those clubs now expected to open in future years, particularly strengthening the 2026 pipeline. He stressed that the company manages to its overall financial commitments regardless of opening cadence.

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