Centiva Capital LP Makes New $678,000 Investment in Planet Fitness, Inc. (NYSE:PLNT)

Centiva Capital LP purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,353 shares of the company's stock, valued at approximately $678,000.

Several other institutional investors and hedge funds also recently modified their holdings of PLNT. GAMMA Investing LLC raised its stake in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company's stock valued at $30,000 after buying an additional 153 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock valued at $40,000 after buying an additional 201 shares during the last quarter. Quarry LP lifted its stake in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company's stock valued at $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance acquired a new stake in Planet Fitness during the second quarter worth approximately $82,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PLNT shares. BNP Paribas upgraded Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Royal Bank of Canada upped their target price on Planet Fitness from $87.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Macquarie reissued a "neutral" rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.38.

Planet Fitness Price Performance

NYSE PLNT traded down $0.50 during trading hours on Friday, hitting $99.87. The company had a trading volume of 570,175 shares, compared to its average volume of 1,184,578. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.69, a P/E/G ratio of 3.30 and a beta of 1.53. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.81. The firm's 50 day moving average is $88.51 and its 200 day moving average is $79.94.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate 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.