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

Man Group plc bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,880 shares of the company's stock, valued at approximately $9,875,000. Man Group plc owned about 0.12% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in shares of Planet Fitness by 2.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock valued at $457,000 after purchasing an additional 94 shares during the last quarter. Cetera Trust Company N.A lifted its position in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock worth $268,000 after buying an additional 135 shares in the last quarter. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after buying an additional 157 shares during the last quarter. Truist Financial Corp grew its holdings in Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after buying an additional 161 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in Planet Fitness by 5.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,442 shares of the company's stock valued at $439,000 after buying an additional 214 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 NYSE:PLNT traded up $0.74 on Thursday, hitting $104.80. 1,638,861 shares of the company's stock were exchanged, compared to its average volume of 1,404,628. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 56.34, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 12 month low of $60.56 and a 12 month high of $110.00. The business's 50 day simple moving average is $97.02 and its two-hundred day simple moving average is $98.69.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on PLNT shares. Roth Mkm reiterated a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Morgan Stanley upped their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Guggenheim reissued a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Macquarie restated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Stifel Nicolaus raised shares of Planet Fitness from a "hold" rating to a "buy" rating and increased their price target for the company from $82.00 to $120.00 in a report on Thursday. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $105.11.

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.