Lord Abbett & CO. LLC Invests $31.58 Million in Life Time Group Holdings, Inc. (NYSE:LTH)

Lord Abbett & CO. LLC bought a new position in shares of Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,292,983 shares of the company's stock, valued at approximately $31,575,000. Lord Abbett & CO. LLC owned 0.62% of Life Time Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Life Time Group by 38.2% in the second quarter. Amalgamated Bank now owns 2,036 shares of the company's stock worth $38,000 after acquiring an additional 563 shares during the period. Farther Finance Advisors LLC grew its holdings in Life Time Group by 105.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company's stock valued at $43,000 after buying an additional 906 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Life Time Group during the third quarter valued at approximately $60,000. Blue Trust Inc. lifted its holdings in shares of Life Time Group by 345.5% in the third quarter. Blue Trust Inc. now owns 2,940 shares of the company's stock worth $72,000 after buying an additional 2,280 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Life Time Group by 268.2% during the third quarter. FMR LLC now owns 5,011 shares of the company's stock worth $122,000 after acquiring an additional 3,650 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LTH shares. Northland Securities lifted their price target on shares of Life Time Group from $28.50 to $29.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Wells Fargo & Company increased their price target on Life Time Group from $21.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Evercore ISI initiated coverage on Life Time Group in a research note on Friday, November 22nd. They issued an "outperform" rating and a $29.00 price objective on the stock. Morgan Stanley increased their target price on Life Time Group from $21.00 to $29.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price target on shares of Life Time Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.78.

Life Time Group Trading Up 1.6 %

LTH stock traded up $0.36 during mid-day trading on Monday, reaching $23.11. 1,754,986 shares of the stock traded hands, compared to its average volume of 1,109,969. The business has a 50-day moving average price of $24.24 and a two-hundred day moving average price of $22.43. The stock has a market capitalization of $4.78 billion, a PE ratio of 32.97, a PEG ratio of 1.49 and a beta of 1.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. Life Time Group Holdings, Inc. has a one year low of $11.89 and a one year high of $27.11.

Life Time Group (NYSE:LTH - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The business's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts expect that Life Time Group Holdings, Inc. will post 0.56 EPS for the current year.

Insider Transactions at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 4,662 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the transaction, the chief financial officer now directly owns 75,866 shares in the company, valued at $1,963,412.08. This represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Parham Javaheri sold 168,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the transaction, the executive vice president now directly owns 243,938 shares in the company, valued at approximately $5,993,556.66. This trade represents a 40.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.50% of the company's stock.

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.