Y Intercept Hong Kong Ltd Acquires Shares of 7,442 Planet Fitness, Inc. (NYSE:PLNT)

Y Intercept Hong Kong Ltd bought a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,442 shares of the company's stock, valued at approximately $604,000.

Other large investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new position in shares of Planet Fitness in the 2nd quarter valued at approximately $166,978,000. Anomaly Capital Management LP acquired a new position in Planet Fitness during the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. raised its position in shares of Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock valued at $96,985,000 after purchasing an additional 829,509 shares during the period. FMR LLC lifted its stake in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after buying an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP boosted its holdings in shares of Planet Fitness by 7.7% during the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock worth $213,940,000 after buying an additional 207,193 shares during the period. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. Robert W. Baird boosted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. DA Davidson raised their price target on shares of Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. Finally, Macquarie restated a "neutral" rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.38.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded up $0.08 during midday trading on Friday, reaching $100.34. 753,293 shares of the company traded hands, compared to its average volume of 1,491,786. The stock's 50-day simple moving average is $90.30 and its 200-day simple moving average is $81.38. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $102.88. The firm has a market cap of $8.49 billion, a PE ratio of 53.95, a PEG ratio of 3.39 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.

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.