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

Monimus Capital Management LP acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,745 shares of the company’s stock, valued at approximately $6,698,000. Planet Fitness comprises approximately 6.3% of Monimus Capital Management LP’s holdings, making the stock its biggest position. Monimus Capital Management LP owned approximately 0.08% of Planet Fitness at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after acquiring an additional 157 shares during the period. R Squared Ltd acquired a new position in Planet Fitness in the fourth quarter valued at approximately $39,000. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $51,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Planet Fitness during the third quarter worth approximately $200,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 2.5 %

NYSE:PLNT opened at $95.56 on Friday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00. The firm has a market capitalization of $8.09 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The firm has a 50-day moving average price of $101.16 and a 200 day moving average price of $93.24.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PLNT. Stifel Nicolaus cut their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Roth Mkm reaffirmed a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group assumed coverage on Planet Fitness in a report on Thursday. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Macquarie dropped their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.17.

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.