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

Lord Abbett & CO. LLC acquired a new stake in shares of Life Time Group Holdings, Inc. (NYSE:LTH) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 1,292,983 shares of the company’s stock, valued at approximately $31,575,000. Lord Abbett & CO. LLC owned approximately 0.62% of Life Time Group as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LTH. American Century Companies Inc. raised its stake in Life Time Group by 402.6% during the 2nd quarter. American Century Companies Inc. now owns 104,431 shares of the company’s stock valued at $1,966,000 after purchasing an additional 83,654 shares during the period. Quest Partners LLC bought a new stake in Life Time Group during the 2nd quarter valued at approximately $549,000. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 906 shares during the period. Quadrature Capital Ltd bought a new stake in Life Time Group during the 3rd quarter valued at approximately $697,000. Finally, Point72 Asset Management L.P. raised its stake in Life Time Group by 24.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 377,624 shares of the company’s stock valued at $7,111,000 after purchasing an additional 75,054 shares during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Life Time Group

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Northland Securities lifted their target price on Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Evercore ISI started 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. Wells Fargo & Company lifted their price objective on Life Time Group from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price objective on Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America lifted their price objective on Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.78.

Life Time Group Price Performance

LTH opened at $22.75 on Monday. The business has a fifty day moving average of $24.24 and a 200 day moving average of $22.43. Life Time Group Holdings, Inc. has a 52-week low of $11.89 and a 52-week high of $27.11. 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 stock has a market cap of $4.71 billion, a P/E ratio of 32.97, a PEG ratio of 1.49 and a beta of 1.88.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The business had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. During the same quarter in the previous year, the firm earned $0.09 EPS. Life Time Group’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Life Time Group Holdings, Inc. will post 0.56 EPS for the current year.

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.