Life Time Group Holdings shares are trading lower after a Form 8K filing disclosed that CFO Robert Houghton will resign on December 31st. The company reaffirmed its Q4 and FY23 revenue guidance.
Portfolio Pulse from Benzinga Newsdesk
Life Time Group Holdings' shares dropped following the announcement that CFO Robert Houghton will resign at the end of the year. Despite this, the company has reaffirmed its revenue guidance for Q4 and the full year 2023.
December 27, 2023 | 3:55 pm
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NEGATIVE IMPACT
Life Time Group Holdings' stock price is down after the news of CFO Robert Houghton's upcoming resignation, although the company has reaffirmed its revenue guidance for Q4 and FY23.
The resignation of a CFO can be a significant event for a company and may lead to uncertainty among investors, often resulting in a negative short-term impact on the stock price. However, the reaffirmation of revenue guidance may mitigate some of the negative sentiment as it suggests business continuity and financial stability.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80