Life Time Group Holdings, Inc. (NYSE:LTH) CEO Sells $150,650,000.00 in Stock

Life Time Group Holdings, Inc. (NYSE:LTH) 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 completion of 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. The trade was a 62.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Life Time Group Stock Performance

Shares of LTH stock opened at $32.19 on Thursday. The company has a fifty day moving average price of $28.27 and a two-hundred day moving average price of $25.53. Life Time Group Holdings, Inc. has a one year low of $12.34 and a one year high of $33.64. The stock has a market cap of $6.66 billion, a P/E ratio of 46.65, a P/E/G ratio of 0.81 and a beta of 1.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46.

Institutional Investors Weigh In On Life Time Group

Several hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Life Time Group by 105.8% during the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after buying an additional 906 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Life Time Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company’s stock worth $89,045,000 after acquiring an additional 46,710 shares during the period. Assetmark Inc. increased its holdings in shares of Life Time Group by 8.5% during the 3rd quarter. Assetmark Inc. now owns 12,022 shares of the company’s stock worth $294,000 after acquiring an additional 941 shares during the last quarter. Peregrine Asset Advisers Inc. raised its stake in Life Time Group by 55.2% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 258,251 shares of the company’s stock valued at $6,306,000 after acquiring an additional 91,799 shares during the period. Finally, Versor Investments LP acquired a new stake in Life Time Group during the 3rd quarter valued at $912,000. 79.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LTH. Wells Fargo & Company upped their price objective on Life Time Group from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. The Goldman Sachs Group upped their price target on Life Time Group from $22.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday. Guggenheim raised 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. Craig Hallum boosted their price objective on shares of Life Time Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Northland Securities raised their target price on shares of Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average 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.