Man Group plc Acquires New Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Man Group plc purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 99,880 shares of the company's stock, valued at approximately $9,875,000. Man Group plc owned approximately 0.12% of Planet Fitness as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. Arkadios Wealth Advisors boosted its stake in shares of Planet Fitness by 26.6% during the 4th quarter. Arkadios Wealth Advisors now owns 10,984 shares of the company's stock worth $1,086,000 after acquiring an additional 2,305 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Planet Fitness during the 4th quarter worth $18,767,000. UMB Bank n.a. boosted its stake in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares in the last quarter. Beaumont Financial Advisors LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $202,000. Finally, Cetera Trust Company N.A boosted its stake in shares of Planet Fitness by 5.2% during the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock worth $268,000 after acquiring an additional 135 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 0.5%

Shares of PLNT traded up $0.54 during midday trading on Friday, reaching $105.34. 1,539,662 shares of the stock were exchanged, compared to its average volume of 1,405,230. Planet Fitness, Inc. has a 12-month low of $60.56 and a 12-month high of $110.00. The firm has a 50 day simple moving average of $97.27 and a 200-day simple moving average of $99.15. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 56.64, a P/E/G ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results 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 negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. During the same period last year, the business earned $0.53 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Roth Mkm reissued a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. BMO Capital Markets upped their price target on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Macquarie reissued a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

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.