Lord Abbett & CO. LLC Purchases 317,566 Shares of Life Time Group Holdings, Inc. (NYSE:LTH)

Lord Abbett & CO. LLC lifted its holdings in Life Time Group Holdings, Inc. (NYSE:LTH) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,610,549 shares of the company’s stock after buying an additional 317,566 shares during the period. Lord Abbett & CO. LLC owned approximately 0.78% of Life Time Group worth $35,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. R Squared Ltd purchased a new position in Life Time Group in the fourth quarter worth $42,000. Sterling Capital Management LLC boosted its holdings in shares of Life Time Group by 892.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,025 shares of the company’s stock worth $45,000 after buying an additional 1,821 shares during the last quarter. Dnca Finance grew its position in Life Time Group by 11.9% during the fourth quarter. Dnca Finance now owns 3,830 shares of the company’s stock valued at $85,000 after buying an additional 407 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Life Time Group during the fourth quarter worth about $88,000. Finally, Principal Securities Inc. bought a new stake in Life Time Group in the fourth quarter worth about $98,000. 79.40% of the stock is owned by institutional investors.

Insider Transactions at Life Time Group

In related news, CFO Erik Weaver sold 1,741 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $29.62, for a total value of $51,568.42. Following the transaction, the chief financial officer now directly owns 96,361 shares in the company, valued at approximately $2,854,212.82. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bahram Akradi sold 5,000,000 shares of Life Time Group stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,993,849 shares of the company’s stock, valued at approximately $90,204,670.37. The trade was a 62.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,008,551 shares of company stock valued at $150,905,868. 8.70% of the stock is currently owned by company insiders.

Life Time Group Stock Performance

NYSE LTH opened at $31.15 on Friday. The company’s 50 day simple moving average is $30.50 and its two-hundred day simple moving average is $27.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46. Life Time Group Holdings, Inc. has a 1 year low of $12.34 and a 1 year high of $33.64. The stock has a market capitalization of $6.66 billion, a PE ratio of 45.15, a P/E/G ratio of 0.81 and a beta of 1.87.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LTH. Oppenheimer raised their price target on shares of Life Time Group from $33.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Northland Securities set a $39.00 target price on Life Time Group and gave the company a “buy” rating in a research note on Thursday, February 27th. Evercore ISI set a $38.00 price target on Life Time Group and gave the stock a “buy” rating in a research note on Thursday, February 27th. Guggenheim lifted their price objective on Life Time Group from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Craig Hallum upped their price objective on shares of Life Time Group from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.62.

Life Time Group 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.