Landsberg Bennett & Dubbaneh LLC Increases Stake in Planet Fitness Inc (NYSE:PLNT)

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Landsberg Bennett & Dubbaneh LLC lifted its stake in Planet Fitness Inc (NYSE:PLNT) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,800 shares of the company’s stock after purchasing an additional 238 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Planet Fitness were worth $1,654,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Cerebellum GP LLC purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $450,000. Scout Investments Inc. purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $23,796,000. Redhawk Wealth Advisors Inc. raised its position in shares of Planet Fitness by 10.2% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 7,607 shares of the company’s stock valued at $440,000 after purchasing an additional 703 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Planet Fitness by 58.5% in the 2nd quarter. Macquarie Group Ltd. now owns 5,255 shares of the company’s stock valued at $381,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of Planet Fitness in the 2nd quarter valued at approximately $759,000. 88.83% of the stock is owned by hedge funds and other institutional investors.

PLNT traded up $1.10 during trading on Friday, reaching $58.71. 51,602 shares of the company’s stock were exchanged, compared to its average volume of 1,088,487. Planet Fitness Inc has a 1 year low of $44.97 and a 1 year high of $81.90. The stock has a market capitalization of $5.33 billion, a P/E ratio of 48.06, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company’s fifty day simple moving average is $63.05 and its 200-day simple moving average is $71.91.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $181.66 million during the quarter, compared to analyst estimates of $167.91 million. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, analysts predict that Planet Fitness Inc will post 1.57 earnings per share for the current fiscal year.

PLNT has been the subject of several research analyst reports. ValuEngine lowered shares of Planet Fitness from a “hold” rating to a “sell” rating in a research report on Monday. Berenberg Bank lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Roth Capital raised their price target on shares of Planet Fitness from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Planet Fitness in a research report on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price target for the company. Finally, Imperial Capital reissued an “in-line” rating and set a $72.50 price target (up from $55.00) on shares of Planet Fitness in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $77.04.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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