Nordea Investment Management AB Buys 8,600 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Nordea Investment Management AB raised its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 183,061 shares of the company's stock after acquiring an additional 8,600 shares during the period. Nordea Investment Management AB owned approximately 0.22% of Planet Fitness worth $18,205,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLNT. Robert W. Baird lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Raymond James increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. DA Davidson boosted their price target on shares of Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.13.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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 in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.94% of the company's stock.

Planet Fitness Trading Up 2.5 %

Shares of PLNT stock traded up $2.42 during trading on Thursday, reaching $100.87. 1,339,343 shares of the company's stock traded hands, compared to its average volume of 1,212,848. The firm's 50-day moving average is $97.74 and its 200 day moving average is $85.28. The company has a market capitalization of $8.53 billion, a P/E ratio of 54.23, a PEG ratio of 3.33 and a beta of 1.52. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.90.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to analysts' expectations of $283.79 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The firm's quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

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.