Point72 Asia Singapore Pte. Ltd. Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,884 shares of the company's stock, valued at approximately $478,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Planet Fitness by 8.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company's stock valued at $1,255,000 after purchasing an additional 1,210 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Planet Fitness during the 3rd quarter worth $1,990,000. FMR LLC grew its holdings in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after buying an additional 691,761 shares during the last quarter. Finally, Qsemble Capital Management LP increased its position in Planet Fitness by 100.6% in the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company's stock valued at $1,703,000 after acquiring an additional 10,518 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a "hold" rating and a $71.00 price objective on the stock. Robert W. Baird raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Macquarie reissued a "neutral" rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Finally, Raymond James increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.38.

Planet Fitness Stock Down 0.2 %

Planet Fitness stock traded down $0.19 during mid-day trading on Tuesday, hitting $99.39. 692,283 shares of the company's stock traded hands, compared to its average volume of 1,515,195. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.81. The firm has a 50 day moving average price of $87.11 and a 200 day moving average price of $79.05. The company has a market cap of $8.41 billion, a PE ratio of 53.44, 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 data 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company's stock.

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.