WINTON GROUP Ltd Invests $2.83 Million in Planet Fitness, Inc. (NYSE:PLNT)

WINTON GROUP Ltd bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,399 shares of the company’s stock, valued at approximately $2,826,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock valued at $65,549,000 after buying an additional 133,541 shares in the last quarter. Broad Bay Capital Management LP grew its stake in shares of Planet Fitness by 15.4% in the fourth quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock valued at $89,279,000 after buying an additional 163,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Planet Fitness by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after buying an additional 97,823 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Planet Fitness by 24.9% in the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after buying an additional 45,623 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Planet Fitness in the first quarter valued at $1,786,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Bank of America lifted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $84.87.

Insider Activity at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Performance

PLNT opened at $82.39 on Friday. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $83.98. The company has a market capitalization of $7.27 billion, a P/E ratio of 47.35, a P/E/G ratio of 2.72 and a beta of 1.49. The stock has a fifty day moving average of $77.85 and a 200-day moving average of $69.23.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. Planet Fitness’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.44 earnings per share 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.