Artemis Investment Management LLP Grows Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Artemis Investment Management LLP raised its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 253.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 671,073 shares of the company's stock after buying an additional 481,263 shares during the period. Artemis Investment Management LLP owned approximately 0.79% of Planet Fitness worth $64,832,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after buying an additional 2,570,826 shares during the last quarter. Norges Bank bought a new stake in shares of Planet Fitness in the 4th quarter worth about $100,009,000. Sequoia Financial Advisors LLC bought a new stake in shares of Planet Fitness in the 1st quarter worth about $54,384,000. Nomura Holdings Inc. raised its stake in shares of Planet Fitness by 103.4% in the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock valued at $1,104,000 after purchasing an additional 340,370 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Planet Fitness by 199.7% during the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after purchasing an additional 321,644 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Up 2.3%

Shares of NYSE PLNT opened at $107.89 on Friday. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $110.95. The company has a market cap of $9.08 billion, a PE ratio of 50.89, a P/E/G ratio of 2.34 and a beta of 1.33. The stock has a 50 day simple moving average of $101.27 and a 200-day simple moving average of $100.21.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets upped their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Guggenheim reissued a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Macquarie reissued a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.63.

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.

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