Diversified Trust Co Boosts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,005 shares of the company’s stock after purchasing an additional 1,441 shares during the period. Diversified Trust Co’s holdings in Planet Fitness were worth $1,619,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLNT. Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares during the period. International Assets Investment Management LLC raised its stake in shares of Planet Fitness by 886.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,840 shares of the company’s stock valued at $426,000 after acquiring an additional 5,248 shares during the period. Allworth Financial LP raised its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Planet Fitness in the 4th quarter valued at $1,752,000. Finally, Verdence Capital Advisors LLC purchased a new position in shares of Planet Fitness in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Transactions at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several analyst reports. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price target for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. DA Davidson reissued a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Finally, Royal Bank of Canada lifted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $79.87.

Planet Fitness Stock Performance

Shares of PLNT stock traded up $0.22 during midday trading on Wednesday, reaching $80.13. 51,344 shares of the company were exchanged, compared to its average volume of 1,681,986. The company’s 50 day moving average price is $73.85 and its two-hundred day moving average price is $67.07. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $80.40. The company has a market cap of $7.07 billion, a P/E ratio of 45.93, a PEG ratio of 2.57 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

About Planet Fitness

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.