Natixis Advisors LLC Buys New Position in Planet Fitness, Inc. (NYSE:PLNT)

Natixis Advisors LLC acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,529 shares of the company's stock, valued at approximately $855,000.

A number of other hedge funds also recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter worth about $166,978,000. Anomaly Capital Management LP acquired a new stake in Planet Fitness in the 2nd quarter valued at about $106,795,000. Point72 Asset Management L.P. increased its position in Planet Fitness by 169.8% in the 2nd 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 in the last quarter. Dorsal Capital Management LP increased its position in Planet Fitness by 7.7% in the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock valued at $213,940,000 after acquiring an additional 207,193 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company's stock valued at $80,910,000 after acquiring an additional 173,536 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Buying and Selling

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 transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly 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 hyperlink. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Stock Performance

PLNT stock traded down $0.55 during mid-day trading on Thursday, hitting $101.02. 842,891 shares of the company were exchanged, compared to its average volume of 1,526,602. The firm has a market cap of $8.55 billion, a P/E ratio of 54.31, a P/E/G ratio of 3.36 and a beta of 1.49. The firm's 50 day simple moving average is $86.11 and its 200 day simple moving average is $78.25. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.81.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PLNT shares. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Robert W. Baird raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a "hold" rating and a $71.00 target price on the stock. Finally, Macquarie reaffirmed a "neutral" rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $91.81.

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.