Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 183,061 shares of the company’s stock after buying an additional 8,600 shares during the quarter. Nordea Investment Management AB owned 0.22% of Planet Fitness worth $18,205,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP grew its stake in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. GAMMA Investing LLC grew its stake in Planet Fitness by 396.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after purchasing an additional 1,516 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Planet Fitness during the 2nd quarter worth approximately $200,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $200,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLNT has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of Planet Fitness from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Robert W. Baird increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.13.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.94% of the company’s stock.

Planet Fitness Stock Performance

Planet Fitness stock opened at $100.87 on Thursday. The firm has a market capitalization of $8.53 billion, a P/E ratio of 54.23, a P/E/G ratio of 3.33 and a beta of 1.52. The company has a 50-day simple moving average of $97.30 and a 200-day simple moving average of $85.17. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.90.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Planet Fitness 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.