Pelham Capital Ltd. Acquires New Position in Planet Fitness, Inc. $PLNT

Pelham Capital Ltd. bought a new position in Planet Fitness, Inc. (NYSE:PLNT) in the 3rd quarter, Holdings Channel reports. The fund bought 123,706 shares of the company’s stock, valued at approximately $12,841,000. Planet Fitness comprises approximately 6.4% of Pelham Capital Ltd.’s holdings, making the stock its 10th biggest position.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after purchasing an additional 24,981 shares in the last quarter. Empowered Funds LLC bought a new position in Planet Fitness in the 1st quarter worth $1,891,000. Vanguard Personalized Indexing Management LLC increased its stake in Planet Fitness by 22.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,468 shares of the company’s stock worth $923,000 after buying an additional 1,541 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Planet Fitness by 13.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,945 shares of the company’s stock valued at $16,508,000 after acquiring an additional 18,010 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Planet Fitness by 80.5% in the second quarter. Allianz Asset Management GmbH now owns 8,564 shares of the company’s stock valued at $934,000 after acquiring an additional 3,820 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT opened at $90.68 on Friday. The stock has a market capitalization of $7.55 billion, a PE ratio of 37.01, a P/E/G ratio of 1.38 and a beta of 1.26. The company’s fifty day moving average is $101.41 and its 200 day moving average is $102.25. Planet Fitness, Inc. has a fifty-two week low of $87.44 and a fifty-two week high of $114.47.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLNT. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, January 9th. Morgan Stanley increased their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, January 16th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, Canaccord Genuity Group lifted their price target on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $122.27.

Planet Fitness Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.