Life Time Group (NYSE:LTH) Director Sells $126,106,945.20 in Stock

Key Points

• Director John Danhakl sold 2.88 million Life Time Group shares for approximately $126.1 million, reducing his direct ownership by 48.73% to 3.03 million shares.
• Life Time Group reported stronger-than-expected quarterly results, with EPS of $0.48 versus the $0.37 consensus estimate and revenue of $866 million, up 13.7% year over year.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $54.85, compared with a recent trading price of $43.58.

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) Director John Danhakl sold 2,879,154 shares of Life Time Group stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total value of $126,106,945.20. Following the sale, the director directly owned 3,029,450 shares of the company's stock, valued at approximately $132,689,910. This represents a 48.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Life Time Group Stock Performance

NYSE:LTH traded down $0.77 during mid-day trading on Friday, hitting $43.58. The company's stock had a trading volume of 2,810,325 shares, compared to its average volume of 2,985,166. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.60 and a beta of 1.50. Life Time Group Holdings, Inc. has a 1 year low of $24.14 and a 1 year high of $47.24. The business's fifty day moving average is $42.85 and its two-hundred day moving average is $34.14. 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 (NYSE:LTH - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.11. The business had revenue of $866.00 million for the quarter, compared to analyst estimates of $845.75 million. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The company's revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. Analysts anticipate that Life Time Group Holdings, Inc. will post 1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Life Time Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Nykredit A S purchased a new position in shares of Life Time Group during the 2nd quarter worth about $47,000. Wexford Capital LP acquired a new position in shares of Life Time Group in the 3rd quarter valued at approximately $40,000. EverSource Wealth Advisors LLC raised its holdings in Life Time Group by 201.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company's stock valued at $45,000 after acquiring an additional 1,002 shares in the last quarter. Versant Capital Management Inc grew its holdings in Life Time Group by 286.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,806 shares of the company's stock worth $74,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Life Time Group during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 79.40% of the company's stock.

Analyst Ratings Changes

LTH has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their target price on shares of Life Time Group from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of Life Time Group from $46.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings raised Life Time Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 6th. Oppenheimer upped their target price on shares of Life Time Group from $43.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Finally, Bank of America reissued a "buy" rating and issued a $51.00 price objective on shares of Life Time Group in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, Life Time Group presently has a consensus rating of "Buy" and a consensus price target of $54.85.

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.

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