AlphaQuest LLC Acquires 2,924 Shares of Planet Fitness, Inc. $PLNT

AlphaQuest LLC grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 123.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,296 shares of the company’s stock after acquiring an additional 2,924 shares during the period. AlphaQuest LLC’s holdings in Planet Fitness were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PLNT. Invesco Ltd. grew its position in shares of Planet Fitness by 358.0% during the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after acquiring an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd lifted its stake in shares of Planet Fitness by 61.1% during the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock valued at $205,265,000 after buying an additional 806,023 shares in the last quarter. Junto Capital Management LP purchased a new position in shares of Planet Fitness during the 1st quarter valued at $52,580,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock worth $812,213,000 after buying an additional 496,047 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

PLNT stock opened at $93.67 on Wednesday. The firm has a fifty day moving average price of $100.52 and a 200 day moving average price of $102.82. Planet Fitness, Inc. has a fifty-two week low of $77.79 and a fifty-two week high of $114.47. The firm has a market cap of $7.89 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 2.14 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Planet Fitness’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group reissued a “buy” rating and set a $126.00 target price on shares of Planet Fitness in a research note on Monday, September 15th. Morgan Stanley boosted their price target on Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

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.