Insider Selling: Life Time Group Holdings, Inc. (NYSE:LTH) CEO Sells 5,000,000 Shares of Stock

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) CEO Bahram Akradi sold 5,000,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $30.13, for a total value of $150,650,000.00. Following the transaction, the chief executive officer now owns 2,993,849 shares in the company, valued at $90,204,670.37. This trade represents a 62.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Life Time Group Stock Down 4.7 %

Shares of NYSE LTH traded down $1.41 during trading on Friday, reaching $28.70. 1,171,463 shares of the stock were exchanged, compared to its average volume of 2,406,218. The business's 50-day moving average price is $28.42 and its 200 day moving average price is $25.57. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 41.55, a price-to-earnings-growth ratio of 0.81 and a beta of 1.93. Life Time Group Holdings, Inc. has a twelve month low of $12.34 and a twelve month high of $33.64. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LTH shares. Mizuho increased their price objective on shares of Life Time Group from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Life Time Group from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Guggenheim upped their price objective on Life Time Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Oppenheimer lifted their target price on Life Time Group from $33.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Finally, 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 note on Monday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Life Time Group currently has an average rating of "Moderate Buy" and a consensus price target of $33.86.

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Hedge Funds Weigh In On Life Time Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTH. Farther Finance Advisors LLC boosted its holdings in Life Time Group by 105.8% in the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company's stock valued at $43,000 after purchasing an additional 906 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Life Time Group by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company's stock valued at $89,045,000 after purchasing an additional 46,710 shares in the last quarter. Assetmark Inc. boosted its stake 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 valued at $294,000 after buying an additional 941 shares during the last quarter. Peregrine Asset Advisers Inc. grew its position in shares of Life Time Group by 55.2% during the third quarter. Peregrine Asset Advisers Inc. now owns 258,251 shares of the company's stock worth $6,306,000 after buying an additional 91,799 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Life Time Group in the third quarter worth $912,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

About Life Time Group

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.