Hedge Funds And Investments: How Does the Future Look For Planet Fitness

We observed that recently there has been an increase from the biggest hedge funds when it comes to Planet Fitness Inc (NYSE:PLNT). That being said, let us take a closer look at the hedge fund action of Planet Fitness Inc.

Hedge funds in the fourth quarter of 2018 did not look bad. It appears that 32 hedge funds were bullish on stock, which is an improvement from the past quarter. Certain key hedge fund managers constantly added to their holdings.

Scopus Asset Management had the largest stake in Planet Fitness Inc. Reportedly it had $60 million worth of stock back in September. Marshall Wace LLP followed it, owning $55.2 worth of shares. There are other big investors, including Melvin Capital Management, Daruma Asset Management and Renaissance Technologies.

Marshall Wace LLP, managed by Paul Marshall and Ian Wace manage to get the largest position. By the end of the quearter it had invested $55.2 million in Planet Fitness Inc. There was also a major investment coming from Gabriel Plotkin’s Melvin Capital Management. This one reached $39.2 million. Lee Ainslie’s Maverick Capital, David Costen Haley’s HBK Investments, and Principal Global Investors’s Columbus Circle Investors have also managed to increase their position.

Investing in stocks

Rhumbline Advisers sold a significant number of Planet Fitness Inc shares. Rhumbline Advisers owned about 0.08% of Planet Fitness, which was worth $4.290.000. 5,823 shares were sold, lowering its holdings by 6.8%.

There are other hedge funds that have decided to add to their stakes. For example, Commonwealth  Equity Services LLC decided to increases its stake by 13.2% during the 3rd quarter and it now owns 23.168 shares. AGF Investment owns 150,507 shares after purchasing 60,507 shares and increasing its’s position by 67.2%.

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