Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) was the recipient of a large 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 daily trading volume, of 2,050,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 5.9% of the shares of the company are short sold.
Wall Street Analyst Weigh In
LTH has been the topic of several analyst reports. Morgan Stanley lifted their target price on Life Time Group from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. The Goldman Sachs Group boosted their price objective on Life Time Group from $22.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Mizuho raised their target price on shares of Life Time Group from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Guggenheim upped 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 report on Friday, February 28th. Finally, Evercore ISI started coverage on shares of Life Time Group in a research report on Friday, November 22nd. They set an "outperform" rating and a $29.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Life Time Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.86.
Read Our Latest Stock Analysis on Life Time Group
Insider Activity
In other news, CEO Bahram Akradi sold 5,000,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were 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 represents a 62.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Erik Weaver sold 1,741 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total transaction of $51,568.42. Following the completion of the transaction, the chief financial officer now directly owns 96,361 shares in the company, valued at approximately $2,854,212.82. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,082,147 shares of company stock valued at $152,891,556 in the last ninety days. 12.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Life Time Group
Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP bought a new stake in Life Time Group during the 3rd quarter valued at $2,002,000. Natixis Advisors LLC purchased a new position in shares of Life Time Group during the third quarter valued at $839,000. Braun Stacey Associates Inc. grew its holdings in Life Time Group by 113.7% during the 3rd quarter. Braun Stacey Associates Inc. now owns 849,792 shares of the company's stock worth $20,752,000 after acquiring an additional 452,197 shares in the last quarter. Jennison Associates LLC purchased a new position in Life Time Group during the 3rd quarter valued at about $986,000. Finally, Intech Investment Management LLC bought a new stake in shares of Life Time Group in the 3rd quarter valued at about $357,000. Institutional investors own 79.40% of the company's stock.
Life Time Group Price Performance
LTH stock traded down $0.33 during mid-day trading on Friday, hitting $30.64. The company had a trading volume of 2,344,140 shares, compared to its average volume of 2,391,221. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 44.40, a P/E/G ratio of 0.81 and a beta of 1.93. The company has a 50-day moving average price of $29.75 and a 200 day moving average price of $25.93. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. Life Time Group has a 12-month low of $12.34 and a 12-month high of $33.64.
Life Time Group Company Profile
(
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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.
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