Tidal Investments LLC Has $2.35 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Tidal Investments LLC lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 132.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,957 shares of the company's stock after buying an additional 16,503 shares during the period. Tidal Investments LLC's holdings in Planet Fitness were worth $2,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dorsal Capital Management LP raised its position in shares of 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 purchasing an additional 207,193 shares in the last quarter. State Street Corp grew its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after purchasing an additional 37,236 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Planet Fitness during the second quarter valued at approximately $166,978,000. Anomaly Capital Management LP bought a new position in Planet Fitness during the 2nd quarter worth approximately $106,795,000. Finally, Point72 Asset Management L.P. boosted its holdings in Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after purchasing an additional 829,509 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Down 1.3 %

Shares of NYSE:PLNT traded down $1.32 during trading on Monday, reaching $99.02. 831,358 shares of the company traded hands, compared to its average volume of 1,489,057. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.88. The firm has a fifty day simple moving average of $90.66 and a 200 day simple moving average of $81.64. The firm has a market cap of $8.38 billion, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its 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 analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. As a group, research analysts anticipate 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 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 sale, the insider now owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLNT. 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 objective for the company. Morgan Stanley boosted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. BNP Paribas upgraded Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 target price on the stock in a research note on Thursday, September 5th. Stifel Nicolaus upped their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, DA Davidson raised their target price on Planet Fitness from $70.00 to $87.00 and gave the company a "neutral" rating in a research report on Friday, November 29th. Five 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.38.

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.