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

Artemis Investment Management LLP grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 253.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 671,073 shares of the company's stock after purchasing an additional 481,263 shares during the period. Artemis Investment Management LLP owned about 0.79% of Planet Fitness worth $64,832,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Planet Fitness by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock worth $794,496,000 after buying an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after acquiring an additional 2,570,826 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after purchasing an additional 36,803 shares during the last quarter. Anomaly Capital Management LP lifted its position in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after purchasing an additional 299,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Planet Fitness by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company's stock valued at $115,407,000 after purchasing an additional 33,230 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Shares of PLNT traded up $0.47 during trading hours on Monday, hitting $109.17. The company's stock had a trading volume of 1,140,735 shares, compared to its average volume of 1,389,074. The business has a 50 day simple moving average of $101.56 and a two-hundred day simple moving average of $100.26. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $113.28. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 2.41 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLNT shares. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley upped their target price on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Guggenheim reiterated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reissued a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.63.

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.