CHANHASSEN, MN – Life Time Group Holdings, Inc. (NYSE:LTH) CEO and founder Bahram Akradi has purchased 39,000 shares of company stock, totaling approximately $653,507. The transactions, which took place on May 31, 2024, were executed at a weighted average price of $16.7566 per share. This purchase demonstrates Akradi's confidence in the company, as he increases his direct stake in the fitness and lifestyle organization.
According to the filing, the shares were acquired in multiple transactions at prices ranging from $16.685 to $16.80. Following this buy, Akradi's direct ownership in Life Time Group Holdings has reached 1,414,613 shares. Additionally, Akradi has indirect ownership through trusts, with 34,411 shares held by the Bahram Akradi 2012 GST Family Trust, 900,155 shares by the 2018 GST Family Trust, and a significant 11,469,894 shares by the Bahram Akradi Revocable Trust dated February 7, 2006.
Life Time Group Holdings, headquartered in Chanhassen, Minnesota, operates as a comprehensive lifestyle company that offers a wide range of services, including sports and recreation clubs. The company's commitment to providing high-quality fitness and wellness services positions it as a leader in the industry.
The SEC filing was signed by attorney-in-fact Stuart McFarland on behalf of Akradi on June 3, 2024. The disclosure provides transparency into the executive's transactions and holdings in the company, as required by U.S. Securities and Exchange Commission regulations for insiders of publicly traded companies.
InvestingPro Insights
As Life Time Group Holdings (NYSE:LTH) CEO Bahram Akradi demonstrates his belief in the company's potential through a significant stock purchase, investors may be contemplating the current valuation and future prospects of LTH. With a market capitalization of $3.34 billion and a notable P/E ratio of 42.39, the company reflects a substantial earnings multiple. Nevertheless, it's worth noting that the adjusted P/E ratio for the last twelve months as of Q1 2024 has decreased to 33.13, suggesting a shift in earnings valuation over recent months.
Life Time Group Holdings has reported robust revenue growth, with an 18.61% increase over the last twelve months as of Q1 2024, underscoring its expanding market presence. This growth is complemented by a solid gross profit margin of 46.48%, indicating a strong ability to translate sales into profits. Additionally, investors have witnessed impressive short-term gains, with the stock price soaring by 18.59% over the past month and 24.11% over the last three months.
While the company does not currently offer dividends, suggesting a focus on reinvesting profits for growth, an InvestingPro Tip highlights that LTH has been profitable over the last twelve months. Moreover, analysts are optimistic about the company's profitability for the current year. For those seeking deeper insights into Life Time Group Holdings' financial health and future performance, InvestingPro offers a wealth of additional tips. Currently, there are 12 more InvestingPro Tips available for LTH at https://www.investing.com/pro/LTH, which can be accessed with an exclusive 10% discount on a yearly or biyearly Pro and Pro+ subscription using the coupon code PRONEWS24.
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