Ninety One SA PTY Ltd Invests $2.54 Million in Planet Fitness, Inc. (NYSE:PLNT)

Ninety One SA PTY Ltd acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,684 shares of the company’s stock, valued at approximately $2,539,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $130,376,000. FMR LLC raised its position in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Planet Fitness during the fourth quarter worth about $18,767,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Planet Fitness in the 3rd quarter worth about $13,592,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Planet Fitness during the 3rd quarter valued at about $5,206,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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 trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLNT shares. Robert W. Baird boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Wednesday, January 15th. Raymond James increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Macquarie reissued a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Trading Down 0.4 %

Shares of Planet Fitness 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 P/E ratio of 57.66, a PEG ratio of 2.67 and a beta of 1.53. The company’s fifty day simple moving average is $102.09 and its two-hundred day simple moving average is $89.43.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company 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%. Planet Fitness’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

About Planet Fitness

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.