Norges Bank Makes New Investment in Life Time Group Holdings, Inc. (NYSE:LTH)

Norges Bank purchased a new stake in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 867,897 shares of the company's stock, valued at approximately $19,198,000. Norges Bank owned 0.42% of Life Time Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LTH. R Squared Ltd purchased a new position in Life Time Group during the fourth quarter valued at $42,000. SBI Securities Co. Ltd. acquired a new position in shares of Life Time Group during the 4th quarter worth about $88,000. Principal Securities Inc. acquired a new stake in Life Time Group in the 4th quarter worth about $98,000. FMR LLC increased its stake in Life Time Group by 268.2% during the 3rd quarter. FMR LLC now owns 5,011 shares of the company's stock worth $122,000 after buying an additional 3,650 shares in the last quarter. Finally, Amundi increased its stake in Life Time Group by 76.5% during the 4th quarter. Amundi now owns 5,046 shares of the company's stock worth $119,000 after buying an additional 2,187 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company's stock.

Life Time Group Price Performance

Shares of Life Time Group stock traded up $1.12 on Friday, hitting $31.17. The company's stock had a trading volume of 2,852,119 shares, compared to its average volume of 1,554,750. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $30.65 and a 200-day moving average price of $26.69. Life Time Group Holdings, Inc. has a 52-week low of $12.34 and a 52-week high of $33.64. The company has a market capitalization of $6.67 billion, a P/E ratio of 45.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.87.

Insider Activity at Life Time Group

In other news, CEO Bahram Akradi sold 5,000,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $30.13, for a total value of $150,650,000.00. Following the completion of the sale, the chief executive officer now owns 2,993,849 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Erik Weaver sold 1,741 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total transaction 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. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,082,147 shares of company stock valued at $152,891,556. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LTH has been the subject of a number of recent research reports. Royal Bank of Canada set a $35.00 price objective on shares of Life Time Group and gave the company a "buy" rating in a report on Thursday, February 27th. BMO Capital Markets set a $28.00 price objective on shares of Life Time Group and gave the company a "hold" rating in a research note on Friday, March 14th. Evercore ISI set a $38.00 price objective on Life Time Group and gave the company a "buy" rating in a research note on Thursday, February 27th. Guggenheim upped their price target on Life Time Group from $32.00 to $36.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Mizuho raised their target price on shares of Life Time Group from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Life Time Group has an average rating of "Moderate Buy" and an average price target of $35.62.

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.