Whittier Trust Co. Acquires 4,588 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Whittier Trust Co. raised its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,269 shares of the company’s stock after purchasing an additional 4,588 shares during the quarter. Whittier Trust Co.’s holdings in Planet Fitness were worth $7,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC increased its stake in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Planet Fitness during the 1st quarter valued at $27,000. V Square Quantitative Management LLC increased its stake in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares in the last quarter. Finally, Quarry LP increased its stake in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.7 %

Shares of PLNT opened at $79.16 on Tuesday. The business’s 50-day moving average price is $81.25 and its 200-day moving average price is $72.81. Planet Fitness, Inc. has a twelve month low of $52.38 and a twelve month high of $85.08. The stock has a market cap of $6.98 billion, a PE ratio of 45.66, a P/E/G ratio of 2.75 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 for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The firm had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. Analysts expect that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a report on Monday, August 26th. Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Piper Sandler lifted their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target on the stock in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $85.27.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the company’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 value of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.94% of the company’s stock.

Planet Fitness 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.