Banco Santander S.A. Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Banco Santander S.A. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,838 shares of the company's stock, valued at approximately $637,000.

A number of other hedge funds have also bought and sold shares of PLNT. Hilton Capital Management LLC acquired a new position in shares of Planet Fitness in the third quarter valued at about $1,688,000. Premier Fund Managers Ltd acquired a new position in Planet Fitness in the 3rd quarter worth approximately $775,000. Quest Partners LLC increased its holdings in Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company's stock worth $772,000 after buying an additional 5,298 shares during the period. Natixis Advisors LLC purchased a new position in Planet Fitness during the 3rd quarter worth approximately $855,000. Finally, ING Groep NV acquired a new stake in Planet Fitness during the 3rd quarter valued at approximately $1,568,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLNT. JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on Planet Fitness from $87.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price objective on the stock in a research note on Thursday, September 5th. Macquarie reiterated a "neutral" rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Planet Fitness presently has an average rating of "Moderate Buy" and a consensus price target of $91.81.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.94% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded up $1.51 during trading on Friday, hitting $101.53. 1,322,602 shares of the company were exchanged, compared to its average volume of 1,397,582. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $101.76. The company has a fifty day moving average price of $84.99 and a 200-day moving average price of $77.47. The firm has a market capitalization of $8.59 billion, a PE ratio of 54.59, a P/E/G ratio of 3.32 and a beta of 1.49.

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 the consensus estimate 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 business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. Research analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

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.