Janus Henderson Group PLC Invests $304,000 in Planet Fitness Inc (PLNT) Stock

Share on StockTwits

Janus Henderson Group PLC bought a new stake in shares of Planet Fitness Inc (NYSE:PLNT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,426 shares of the company’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Ffcm LLC acquired a new position in Planet Fitness in the 4th quarter valued at $26,000. Meeder Asset Management Inc. increased its position in shares of Planet Fitness by 99.3% during the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after purchasing an additional 284 shares in the last quarter. Bessemer Group Inc. increased its position in Planet Fitness by 30.6% in the 4th quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock valued at $60,000 after acquiring an additional 264 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Planet Fitness in the 1st quarter valued at about $73,000. Finally, Ibex Investors LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth approximately $225,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.

A number of brokerages have weighed in on PLNT. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Macquarie upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $64.00 to $85.00 in a report on Tuesday, May 7th. Jefferies Financial Group boosted their target price on shares of Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, Bank of America reissued a “buy” rating and issued a $86.00 target price (up previously from $72.00) on shares of Planet Fitness in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $67.57.

In other news, CEO Christopher Rondeau sold 58,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.60, for a total value of $3,545,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Berg sold 6,291 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now owns 6,615 shares in the company, valued at $408,343.95. The disclosure for this sale can be found here. In the last three months, insiders sold 460,291 shares of company stock valued at $29,450,058. Insiders own 14.52% of the company’s stock.

NYSE:PLNT opened at $74.41 on Friday. The company has a market capitalization of $7.12 billion, a PE ratio of 60.99, a P/E/G ratio of 2.29 and a beta of 0.76. Planet Fitness Inc has a 1 year low of $38.32 and a 1 year high of $81.76.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The business had revenue of $148.82 million for the quarter, compared to the consensus estimate of $153.41 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness Inc will post 1.55 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was posted by Macon Daily and is the sole property of of Macon Daily. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://macondaily.com/2019/05/24/janus-henderson-group-plc-invests-304000-in-planet-fitness-inc-plnt-stock.html.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

Further Reading: What Factors Can Affect Return on Equity?

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc (NYSE:PLNT).

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.