Life Time Group (NYSE:LTH) CEO Bahram Akradi Sells 438,257 Shares of Stock

Life Time Group Holdings, Inc. (NYSE:LTH) CEO Bahram Akradi sold 438,257 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $45.03, for a total transaction of $19,734,712.71. Following the completion of the sale, the chief executive officer owned 3,615,086 shares in the company, valued at $162,787,322.58. This represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Life Time Group Trading Up 1.6%

NYSE LTH traded up $0.69 during trading on Tuesday, reaching $44.86. 3,194,806 shares of the stock traded hands, compared to its average volume of 2,931,984. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.50. The stock’s 50-day moving average price is $38.70 and its 200 day moving average price is $32.05. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. Life Time Group Holdings, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $47.24.

Life Time Group (NYSE:LTH) last issued its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. The firm had revenue of $866.00 million during the quarter, compared to the consensus estimate of $845.75 million. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Analysts predict that Life Time Group Holdings, Inc. will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Life Time Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its holdings in Life Time Group by 138.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock worth $2,589,000 after purchasing an additional 36,800 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Life Time Group by 36.6% during the second quarter. GAMMA Investing LLC now owns 3,844 shares of the company’s stock worth $157,000 after buying an additional 1,029 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Life Time Group during the second quarter worth about $459,000. Versant Capital Management Inc grew its holdings in shares of Life Time Group by 286.7% during the second quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock worth $74,000 after buying an additional 1,339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Life Time Group by 49.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company’s stock worth $48,000 after buying an additional 587 shares in the last quarter. 79.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Life Time Group from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday. Guggenheim increased their price target on Life Time Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group began coverage on Life Time Group in a research report on Monday. They set a “buy” rating and a $53.00 price target on the stock. Deutsche Bank Aktiengesellschaft set a $54.00 price objective on Life Time Group in a report on Friday. Finally, Morgan Stanley boosted their price objective on Life Time Group from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.77.

Life Time Group Company Profile

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.