Artemis Investment Management LLP Invests $18.77 Million in Planet Fitness, Inc. (NYSE:PLNT)

Artemis Investment Management LLP purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 189,810 shares of the company’s stock, valued at approximately $18,767,000. Artemis Investment Management LLP owned approximately 0.22% of Planet Fitness at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dorsal Capital Management LP grew its holdings in shares of Planet Fitness by 7.7% during the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after buying an additional 207,193 shares in the last quarter. State Street Corp boosted its position in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Anomaly Capital Management LP purchased a new stake in Planet Fitness during the 2nd quarter valued at about $106,795,000. Point72 Asset Management L.P. raised its holdings in Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after acquiring an additional 829,509 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock worth $80,910,000 after purchasing an additional 173,536 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was 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 approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Planet Fitness Trading Down 1.4 %

Shares of NYSE PLNT opened at $104.47 on Friday. The stock has a market capitalization of $8.84 billion, a PE ratio of 56.17, a PEG ratio of 2.87 and a beta of 1.52. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $107.68. The stock has a fifty day simple moving average of $100.01 and a 200-day simple moving average of $86.66.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. On average, equities analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, DA Davidson boosted their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Five equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Company 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.