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

Lord Abbett & CO. LLC grew its position in Life Time Group Holdings, Inc. (NYSE:LTH - Free Report) by 24.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,610,549 shares of the company's stock after purchasing an additional 317,566 shares during the period. Lord Abbett & CO. LLC owned about 0.78% of Life Time Group worth $35,626,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in Life Time Group by 7,344.2% during the 4th quarter. Marshall Wace LLP now owns 1,361,032 shares of the company's stock worth $30,106,000 after acquiring an additional 1,342,749 shares during the last quarter. Norges Bank acquired a new position in shares of Life Time Group during the 4th quarter worth about $19,198,000. American Century Companies Inc. increased its stake in Life Time Group by 61.9% in the fourth quarter. American Century Companies Inc. now owns 1,924,461 shares of the company's stock valued at $42,569,000 after purchasing an additional 735,682 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Life Time Group by 45.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,038,064 shares of the company's stock valued at $45,082,000 after buying an additional 640,385 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Life Time Group by 12.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,425,925 shares of the company's stock worth $75,781,000 after purchasing an additional 375,672 shares during the period. 79.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LTH shares. Guggenheim raised their price objective on shares of Life Time Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, February 28th. BMO Capital Markets set a $28.00 target price on shares of Life Time Group and gave the stock a "hold" rating in a report on Friday, March 14th. Bank of America set a $40.00 price objective on Life Time Group and gave the company a "buy" rating in a research report on Monday, March 3rd. Evercore ISI set a $38.00 price objective on shares of Life Time Group and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Mizuho boosted their target price on shares of Life Time Group from $38.00 to $41.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.62.

Life Time Group Price Performance

LTH stock traded up $0.46 during midday trading on Tuesday, reaching $31.69. The company had a trading volume of 1,055,666 shares, compared to its average volume of 1,604,204. Life Time Group Holdings, Inc. has a 1 year low of $12.34 and a 1 year high of $33.64. The firm has a 50-day moving average price of $30.46 and a 200-day moving average price of $27.19. The company has a market capitalization of $6.78 billion, a P/E ratio of 45.93, a P/E/G ratio of 0.81 and a beta of 1.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erik Weaver sold 1,741 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $29.62, for a total transaction of $51,568.42. Following the completion of the transaction, the chief financial officer now owns 96,361 shares in the company, valued at approximately $2,854,212.82. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. 8.70% of the stock is owned by corporate insiders.

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.