Man Group plc Makes New $9.88 Million Investment in Planet Fitness, Inc. (NYSE:PLNT)

Man Group plc acquired a new position in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 99,880 shares of the company’s stock, valued at approximately $9,875,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLNT. R Squared Ltd bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $39,000. UMB Bank n.a. lifted 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 worth $39,000 after buying an additional 157 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $98.93 on Monday. Planet Fitness, Inc. has a 1 year low of $60.56 and a 1 year high of $110.00. The firm has a fifty day moving average price of $96.47 and a 200-day moving average price of $98.46. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 53.19, a PEG ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. During the same period in the previous year, the firm earned $0.53 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

PLNT has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. BMO Capital Markets upped their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Roth Mkm reiterated a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

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.