Trellus Management Company LLC bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $233,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Planet Fitness by 58.2% in the fourth quarter. State Street Corp now owns 430,303 shares of the company’s stock valued at $8,645,000 after buying an additional 158,345 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Planet Fitness during the fourth quarter valued at about $4,092,000. Metropolitan Life Insurance Co. NY raised its position in shares of Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock valued at $383,000 after buying an additional 8,916 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at about $228,000. Finally, AQR Capital Management LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at about $639,000. 98.33% of the stock is owned by institutional investors and hedge funds.
Shares of Planet Fitness, Inc. (NYSE PLNT) opened at 24.47 on Thursday. The stock has a 50 day moving average price of $23.24 and a 200 day moving average price of $21.41. Planet Fitness, Inc. has a 52 week low of $18.32 and a 52 week high of $25.19. The firm has a market capitalization of $2.10 billion, a P/E ratio of 42.19 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same period in the prior year, the firm earned $0.17 earnings per share. Planet Fitness’s revenue was up 17.3% on a year-over-year basis. Analysts forecast that Planet Fitness, Inc. will post $0.47 EPS for the current year.
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PLNT has been the subject of several analyst reports. Guggenheim reaffirmed a “buy” rating and set a $24.00 target price on shares of Planet Fitness in a research report on Monday, April 24th. Roth Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Planet Fitness in a research report on Wednesday, May 3rd. Jefferies Group LLC lifted their price objective on Planet Fitness from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Finally, Imperial Capital lifted their price objective on Planet Fitness from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Planet Fitness currently has a consensus rating of “Buy” and an average target price of $26.89.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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