Advantage Alpha Capital Partners LP decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 55.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,184 shares of the company's stock after selling 39,125 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Planet Fitness were worth $2,533,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PLNT. Quest Partners LLC grew its holdings in Planet Fitness by 126.0% in the third quarter. Quest Partners LLC now owns 9,504 shares of the company's stock valued at $772,000 after purchasing an additional 5,298 shares during the period. Premier Fund Managers Ltd purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at $775,000. Banco Santander S.A. acquired a new stake in shares of Planet Fitness during the 3rd quarter worth $637,000. Fifth Third Bancorp boosted its holdings in Planet Fitness by 60.2% in the second quarter. Fifth Third Bancorp now owns 191,903 shares of the company's stock valued at $14,122,000 after acquiring an additional 72,131 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Planet Fitness by 169.8% during 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 acquiring an additional 829,509 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.
Planet Fitness Stock Performance
Shares of PLNT stock traded up $0.62 during mid-day trading on Tuesday, reaching $101.57. 659,726 shares of the company were exchanged, compared to its average volume of 1,529,588. The business's 50 day simple moving average is $85.36 and its 200 day simple moving average is $77.83. The company has a market capitalization of $8.59 billion, a P/E ratio of 54.12, a P/E/G ratio of 3.37 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.20.
Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $292.20 million during 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 firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current year.
Insider Activity at Planet Fitness
In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company's stock, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.83% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
PLNT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Bank of America raised their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 6th. Macquarie reiterated a "neutral" rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Raymond James raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research report on Friday, September 27th. They set a "hold" rating and a $71.00 price target for the company. Five equities research 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 stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average target price of $91.81.
Read Our Latest Stock Analysis on PLNT
Planet Fitness Profile
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Free Report)
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.
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