Anomaly Capital Management LP Acquires New Position in Planet Fitness, Inc. (NYSE:PLNT)

Anomaly Capital Management LP acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,451,216 shares of the company’s stock, valued at approximately $106,795,000. Planet Fitness comprises about 4.1% of Anomaly Capital Management LP’s portfolio, making the stock its 10th biggest position. Anomaly Capital Management LP owned about 1.65% of Planet Fitness as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Planet Fitness by 3.3% in the 2nd quarter. Pacer Advisors Inc. now owns 13,146 shares of the company’s stock worth $967,000 after purchasing an additional 423 shares during the last quarter. XTX Topco Ltd lifted its stake in Planet Fitness by 173.5% in the second quarter. XTX Topco Ltd now owns 22,674 shares of the company’s stock valued at $1,669,000 after buying an additional 14,385 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Planet Fitness by 16.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock worth $498,000 after buying an additional 947 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Planet Fitness by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock worth $80,910,000 after buying an additional 173,536 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $2,826,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PLNT shares. Piper Sandler lifted their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm upped their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 target price (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. DA Davidson restated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Three research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Planet Fitness Stock Up 0.3 %

NYSE PLNT opened at $84.34 on Monday. The firm’s 50 day moving average is $78.85 and its 200-day moving average is $69.99. The company has a market capitalization of $7.44 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $85.08.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm had revenue of $300.94 million for the quarter, compared to analyst estimates of $290.17 million. During the same period in the previous year, the business earned $0.65 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Insider Buying and Selling

In related news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is currently owned by corporate insiders.

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.