Qsemble Capital Management LP Boosts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Qsemble Capital Management LP lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 100.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,972 shares of the company's stock after acquiring an additional 10,518 shares during the period. Qsemble Capital Management LP's holdings in Planet Fitness were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Planet Fitness by 151,050.0% during the 3rd quarter. Larson Financial Group LLC now owns 3,023 shares of the company's stock worth $246,000 after purchasing an additional 3,021 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Planet Fitness during the 3rd quarter valued at $637,000. Hilton Capital Management LLC bought a new stake in Planet Fitness during the 3rd quarter worth $1,688,000. Premier Fund Managers Ltd bought a new position in Planet Fitness in the third quarter valued at about $775,000. Finally, Quest Partners LLC boosted its stake in shares of Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company's stock valued at $772,000 after purchasing an additional 5,298 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Up 0.6 %

PLNT traded up $0.61 during trading on Tuesday, hitting $101.56. 659,726 shares of the company's stock were exchanged, compared to its average volume of 1,529,588. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.20. The stock has a market cap of $8.59 billion, a P/E ratio of 54.12, a PEG ratio of 3.37 and a beta of 1.49. The business's 50 day moving average is $85.36 and its two-hundred day moving average is $77.83.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 14.23% and a negative return on equity of 107.97%. The firm's 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. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLNT shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a report on Friday, September 27th. They set a "hold" rating and a $71.00 target price on the stock. Roth Mkm increased their price objective on Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. BNP Paribas raised Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 target price on the stock in a report on Thursday, September 5th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Finally, Raymond James raised their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. Five research 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.81.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.83% of the company's stock.

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.