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

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

Several other institutional investors and hedge funds have also modified their holdings of PLNT. Tidal Investments LLC boosted its stake in Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after purchasing an additional 16,503 shares during the period. State Street Corp raised its holdings in Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after acquiring an additional 37,236 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Planet Fitness in the third quarter worth $604,000. Quest Partners LLC lifted its holdings in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after acquiring an additional 5,298 shares during the period. Finally, Qsemble Capital Management LP boosted its position in shares of Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after acquiring an additional 10,518 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Up 2.5 %

Shares of NYSE PLNT opened at $100.87 on Thursday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.90. The company has a 50-day moving average of $97.30 and a two-hundred day moving average of $85.17. The company has a market cap of $8.53 billion, a PE ratio of 54.23, a P/E/G ratio of 3.33 and a beta of 1.52.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLNT. 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 note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on Planet Fitness from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday. Finally, Raymond James upped their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.13.

Insider Buying and Selling

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 value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.94% of the company’s stock.

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.