Quest Partners LLC Purchases 5,298 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Quest Partners LLC grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 126.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,504 shares of the company's stock after buying an additional 5,298 shares during the period. Quest Partners LLC's holdings in Planet Fitness were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position 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 buying an additional 316 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after acquiring an additional 153 shares during the period. 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 in the last quarter. Quarry LP grew its holdings in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 318 shares during the period. Finally, Dnca Finance bought a new stake in Planet Fitness in the second quarter worth about $82,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

PLNT traded up $0.97 during midday trading on Friday, hitting $100.99. 23,266 shares of the company's stock traded hands, compared to its average volume of 1,528,190. The company has a market cap of $8.54 billion, a PE ratio of 53.71, a price-to-earnings-growth ratio of 3.25 and a beta of 1.49. The stock's fifty day simple moving average is $84.61 and its 200-day simple moving average is $77.08. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $101.01.

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

Insider Buying and Selling at Planet Fitness

In other Planet Fitness 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 transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares of the company's stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.94% of the company's stock.

Analysts Set New Price Targets

PLNT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research report on Friday, September 27th. They set a "hold" rating and a $71.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Morgan Stanley raised their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Roth Mkm upped their price target on Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.81.

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.