Life Time Group Holdings, Inc. (NYSE:LTH) Sees Large Decline in Short Interest

Life Time Group Holdings, Inc. (NYSE:LTH) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,720,000 shares, a decrease of 15.3% from the February 13th total of 6,750,000 shares. Based on an average trading volume of 2,050,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 5.9% of the company’s stock are sold short.

Insider Transactions at Life Time Group

In other news, CEO Bahram Akradi sold 5,000,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $30.13, for a total transaction of $150,650,000.00. Following the sale, the chief executive officer now 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 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. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $28.00, for a total value of $1,360,688.00. Following the sale, the executive vice president now directly owns 143,030 shares in the company, valued at $4,004,840. This represents a 25.36 % 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 valued at $152,891,556. 12.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Life Time Group

Hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Life Time Group during the fourth quarter worth about $33,000. R Squared Ltd purchased a new position in shares of Life Time Group during the 4th quarter worth approximately $42,000. Sterling Capital Management LLC increased its stake in shares of 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 increased its stake in shares of Life Time Group by 240.4% during the 4th quarter. Quarry LP now owns 2,335 shares of the company’s stock worth $52,000 after purchasing an additional 1,649 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Life Time Group in the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

Life Time Group Stock Performance

Shares of LTH stock opened at $30.35 on Tuesday. The stock’s 50-day moving average is $29.31 and its two-hundred day moving average is $25.82. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 0.81 and a beta of 1.93. Life Time Group has a 1 year low of $12.34 and a 1 year high of $33.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LTH shares. Craig Hallum increased their target price on Life Time Group from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 28th. The Goldman Sachs Group increased their target price on Life Time Group from $22.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Evercore ISI started coverage on Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 target price on the stock. Wells Fargo & Company increased their target price on Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Mizuho increased their target price on Life Time Group from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Three 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 stock has a consensus rating of “Moderate Buy” and an average target price of $33.86.

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.