Insider Selling: Life Time Group (NYSE:LTH) CEO Sells 264,000 Shares of Company Stock

Key Points

• CEO Bahram Akradi sold 264,000 Life Time Group shares at an average of $45.04, for about $11.89 million. He retained 3,351,086 shares after the sale, a 7.3% reduction in his ownership.
• Life Time Group beat quarterly expectations, reporting EPS of $0.51 versus $0.41 forecast and revenue of $893.52 million versus $874.98 million expected; revenue rose 14.1% year over year.
• Analyst sentiment remains broadly positive: 15 analysts rate the stock Buy and one Hold, with a Moderate Buy consensus and an average price target of $56.14.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) CEO Bahram Akradi sold 264,000 shares of the company's stock in a transaction on Friday, October 30th. The stock was sold at an average price of $45.04, for a total value of $11,890,560.00. Following the sale, the chief executive officer owned 3,351,086 shares of the company's stock, valued at approximately $150,932,913.44. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Life Time Group Price Performance

NYSE:LTH traded up $0.81 during trading hours on Tuesday, hitting $44.63. The company's stock had a trading volume of 3,773,532 shares, compared to its average volume of 3,000,209. The stock has a fifty day simple moving average of $41.66 and a 200-day simple moving average of $35.32. The company has a market capitalization of $9.97 billion, a P/E ratio of 24.25, a PEG ratio of 1.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.66 and a quick ratio of 0.56. Life Time Group Holdings, Inc. has a twelve month low of $24.14 and a twelve month high of $47.32.

Life Time Group (NYSE:LTH - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.41 by $0.10. The firm had revenue of $893.52 million during the quarter, compared to the consensus estimate of $874.98 million. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, analysts anticipate that Life Time Group Holdings, Inc. will post 1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LTH. Dimensional Fund Advisors LP raised its holdings in Life Time Group by 15.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company's stock worth $217,929,000 after purchasing an additional 1,068,208 shares during the last quarter. Nippon Life Global Investors Americas Inc. acquired a new position in shares of Life Time Group in the 3rd quarter worth approximately $22,496,000. The Manufacturers Life Insurance Company boosted its stake in shares of Life Time Group by 38.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,745,768 shares of the company's stock valued at $47,031,000 after purchasing an additional 487,478 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Life Time Group in the 2nd quarter valued at $16,302,000. Finally, Principal Financial Group Inc. increased its position in shares of Life Time Group by 18.1% during the first quarter. Principal Financial Group Inc. now owns 2,589,462 shares of the company's stock worth $69,760,000 after buying an additional 397,248 shares during the period. Institutional investors own 79.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. KeyCorp increased their price objective on shares of Life Time Group from $52.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday. Zacks Research cut shares of Life Time Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Morgan Stanley upped their price target on shares of Life Time Group from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, October 27th. Weiss Ratings upgraded Life Time Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Finally, Mizuho raised their price objective on Life Time Group from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.14.

Life Time Group Company Profile

Life Time Group Holdings, Inc NYSE: LTH operates a network of luxury athletic country clubs in the United States and Canada. The company's facilities combine fitness, sports, health, and wellness services in an integrated club environment designed for individuals and families.

Life Time clubs typically offer cardiovascular and strength-training equipment, group fitness classes, personal training, indoor and outdoor pools, tennis, pickleball, basketball, and other athletic programs. Many locations also provide childcare, spas, cafés, workspaces, recovery services, and specialized programs for children, older adults, and other member groups.

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