Anomaly Capital Management LP Increases Stake in Planet Fitness, Inc. (NYSE:PLNT)

Anomaly Capital Management LP boosted its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 20.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,772,593 shares of the company's stock after purchasing an additional 299,148 shares during the period. Planet Fitness comprises 5.2% of Anomaly Capital Management LP's investment portfolio, making the stock its 9th biggest position. Anomaly Capital Management LP owned approximately 2.10% of Planet Fitness worth $175,256,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LLC grew its holdings in 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 buying an additional 94 shares during the last quarter. Cetera Trust Company N.A grew its holdings in Planet Fitness by 5.2% during the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. grew its holdings in Planet Fitness by 67.4% during the 4th 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 during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after buying an additional 192 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 0.6 %

NYSE:PLNT traded down $0.56 during mid-day trading on Friday, hitting $95.77. The company had a trading volume of 1,077,698 shares, compared to its average volume of 1,417,452. The business has a fifty day simple moving average of $95.85 and a 200-day simple moving average of $96.70. Planet Fitness, Inc. has a 1 year low of $58.51 and a 1 year high of $110.00. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the company posted $0.60 earnings per share. The firm's revenue was up 19.4% compared to the same quarter last year. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLNT. Guggenheim increased their target price on Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 14th. JPMorgan Chase & Co. increased their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Roth Mkm restated a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average target price of $101.72.

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.