1,318,656 Shares in Planet Fitness, Inc. (NYSE:PLNT) Purchased by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,318,656 shares of the company’s stock, valued at approximately $130,376,000. Ninety One UK Ltd owned approximately 1.56% of Planet Fitness at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PLNT. UMB Bank n.a. boosted its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd acquired a new stake in Planet Fitness during the 4th quarter worth approximately $39,000. V Square Quantitative Management LLC boosted its position in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the period. GAMMA Investing LLC grew its stake in shares of Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after acquiring an additional 1,516 shares in the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of Planet Fitness during the fourth quarter worth $202,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent research reports. Stifel Nicolaus lifted their target price on Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, January 17th. Macquarie reiterated a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Raymond James upped their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $97.69.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $107.24 on Wednesday. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 2.67 and a beta of 1.53. The company has a fifty day moving average price of $102.09 and a 200 day moving average price of $89.43.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.