Susquehanna Fundamental Investments LLC Buys New Stake in Planet Fitness, Inc. (NYSE:PLNT)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,000 shares of the company’s stock, valued at approximately $3,091,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Corient Private Wealth LLC boosted its holdings in shares of Planet Fitness by 9.5% in the 4th quarter. Corient Private Wealth LLC now owns 11,671 shares of the company’s stock valued at $852,000 after buying an additional 1,017 shares in the last quarter. US Bancorp DE grew its holdings in shares of Planet Fitness by 23.7% during the fourth quarter. US Bancorp DE now owns 11,882 shares of the company’s stock worth $867,000 after purchasing an additional 2,273 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Planet Fitness by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 37,803 shares of the company’s stock worth $2,760,000 after purchasing an additional 370 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at about $2,443,000. Finally, Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $182,500,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

NYSE:PLNT opened at $81.22 on Tuesday. Planet Fitness, Inc. has a 1 year low of $46.50 and a 1 year high of $85.08. The stock has a fifty day moving average price of $79.48 and a two-hundred day moving average price of $70.76. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 46.68, a PEG ratio of 2.79 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PLNT. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research note on Friday. They set a “hold” rating and a $71.00 price target for the company. Roth Mkm lifted their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a research note on Thursday, September 5th. Finally, DA Davidson restated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Friday, June 14th. Four 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.93.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.

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.