Quantinno Capital Management LP Purchases 16,748 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Quantinno Capital Management LP lifted its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 149.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,971 shares of the company's stock after acquiring an additional 16,748 shares during the period. Quantinno Capital Management LP's holdings in Planet Fitness were worth $2,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLNT. 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 worth $30,000 after buying an additional 153 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Planet Fitness by 69.8% during 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 period. Quarry LP boosted its stake in 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. GAMMA Investing LLC boosted its stake in Planet Fitness by 396.9% during the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock valued at $154,000 after buying an additional 1,516 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Planet Fitness during the third quarter valued at $200,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLNT has been the subject of several research analyst reports. Bank of America lifted their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, September 6th. DA Davidson lifted their price target on Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They set a "hold" rating and a $71.00 price target for the company. Royal Bank of Canada lifted their price target on Planet Fitness from $87.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Five 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.38.

Planet Fitness Trading Up 2.3 %

Shares of PLNT stock traded up $2.30 during midday trading on Wednesday, reaching $102.47. 481,072 shares of the stock were exchanged, compared to its average volume of 1,493,336. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.88. The company's 50 day moving average is $89.22 and its two-hundred day moving average is $80.55. The firm has a market cap of $8.67 billion, a PE ratio of 53.86, a price-to-earnings-growth ratio of 3.31 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.94% of the stock is currently owned by company insiders.

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.