Life Time Group Holdings, Inc. (NYSE:LTH) Sees Significant Drop in Short Interest

Life Time Group Holdings, Inc. (NYSE:LTH) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,720,000 shares, a drop of 15.3% from the February 13th total of 6,750,000 shares. Based on an average daily volume of 2,050,000 shares, the short-interest ratio is presently 2.8 days. Currently, 5.9% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CEO Bahram Akradi sold 5,000,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $30.13, for a total transaction of $150,650,000.00. Following 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. This trade represents a 62.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.00, for a total transaction of $1,360,688.00. Following the completion of the sale, the executive vice president now directly owns 143,030 shares of the company’s stock, valued at $4,004,840. This represents a 25.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,082,147 shares of company stock valued at $152,891,556. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

A number of hedge funds have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new position in shares of Life Time Group during the 4th quarter worth about $33,000. R Squared Ltd bought a new position in Life Time Group in the 4th quarter valued at about $42,000. Sterling Capital Management LLC lifted its holdings in shares of Life Time Group by 892.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,025 shares of the company’s stock valued at $45,000 after purchasing an additional 1,821 shares in the last quarter. Quarry LP boosted its position in shares of Life Time Group by 240.4% during the fourth quarter. Quarry LP now owns 2,335 shares of the company’s stock valued at $52,000 after buying an additional 1,649 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Life Time Group during the third quarter worth $60,000. 79.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LTH shares. The Goldman Sachs Group boosted their price target 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. Guggenheim upped their price objective 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. Craig Hallum boosted their price target on Life Time Group from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Northland Securities increased their price objective on shares of Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Mizuho lifted their price target on Life Time Group from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.86.

Life Time Group Trading Up 2.4 %

LTH stock traded up $0.73 during midday trading on Wednesday, hitting $30.90. The stock had a trading volume of 2,225,582 shares, compared to its average volume of 2,396,913. Life Time Group has a 1-year low of $12.34 and a 1-year high of $33.64. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $29.45 and a two-hundred day moving average price of $25.86. The firm has a market cap of $6.48 billion, a P/E ratio of 44.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.93.

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.