The Maryland State Retirement & Pension System recently acquired a new stake in Planet Fitness, Inc. (NYSE: PLNT) in accordance with its latest filing with the Securities and Exchange Commission (SEC). The company has now bought 6,300 shares of the company, which equals $496,000. The move is indicative of the growing popularity and growth potential of the fitness franchise, which has consistently posted impressive quarterly results.
In fact, Planet Fitness Inc (NYSE:PLNT) released its latest earnings report on Feb. 23, in which it beat analysts’ expectations by reporting earnings of $0.53 in earnings per share (EPS). That was $0.06 higher than analysts had expected for the quarter. Interestingly, despite a negative return on equity of 65.39%, the company still managed to post a net margin of 10.61%. During this period, Planet Fitness recorded revenue of $281.30 million, which was significantly higher than analyst estimates of $271.48 million.
The overall market outlook is also promising as research analysts predict that Planet Fitness, Inc will post an estimated earnings per share of 2.2 in this fiscal year alone. This could be because people are becoming more aware of their health and fitness, which in turn translates into increased demand for gym memberships.
With these positive indicators pointing to growth opportunities for Planet Fitness, investors are taking notice and acquiring stakes in this publicly traded company. It remains to be seen what further growth potential it has; but one thing is certain – Planet Fitness hits all the right notes so far!
Institutional Investors and Hedge Funds Drive Up Planet Fitness Share Value
Planet Fitness gets a boost from institutional investors
The popular fitness chain Planet Fitness has significantly increased its stock market value thanks to a wave of investment from institutional investors and hedge funds. According to recent reports, several entities have made key changes to their positions in the company’s shares, resulting in notable gains for the brand.
One institutional investor that has notably increased its holdings in Planet Fitness is Global Retirement Partners LLC, which raised its position 58.4% during the third quarter. Currently, Global Retirement Partners LLC owns approximately 852 shares worth $56,000, having purchased an additional 314 shares in the last quarter alone.
Another institutional investor that has boosted its investment in Planet Fitness is Captrust Financial Advisors. During the first quarter of 2021, it increased its holdings by 23%, with Captrust Financial Advisors currently clinging to 1,172 shares worth $99,000.
In addition to the aforementioned investors, other entities such as PNC Financial Services Group and Healthcare of Ontario Pension Plan Trust Fund are among those who also participated in increasing their stake in Planet Fitness stock this year.
Examining the figures provided by recent financial data for the first quarter of this year shows how substantial these investments have been. For example, the Healthcare of Ontario Pension Plan Trust Fund has experienced an asset growth rate of up to 801.5%. This means they now own around 1,839 shares worth a staggering $155,000 after securing an additional share of up to 1,635%.
Finally, Psagot Value Holdings Ltd. Israel recently bought Planet Fitness by acquiring new stakes during the third quarter of this year, worth approximately $115,000.
As exciting as these developments are for Planet Fitness and those who support it financially like institutional investors and hedge funds, it’s important not to overlook the key factors shaping overall stock market trends beyond just examining a company. or otherwise in isolation.
For Planet Fitness stock itself, it remains stable with a current value of $77.67 on Monday, and while it has taken the fitness industry some time to recover from the pandemic-related setbacks, indications so far point to continued growth in this sector. in the years to come. Going forward, short-term trends can be expected for markets such as fitness services or gym products as they periodically rise and fall over time due to different hitting and changing factors continually around them. It would therefore be essential for investors to keep abreast of the latest developments in their portfolio companies while keeping a close eye on global economic trends that could shape the future of market stability on a broader level.
