Victory Capital Management Inc. Purchases 584 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Victory Capital Management Inc. boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 3.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,202 shares of the company’s stock after purchasing an additional 584 shares during the period. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $1,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Teacher Retirement System of Texas grew its position in shares of Planet Fitness by 2.8% during the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after acquiring an additional 182 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Planet Fitness by 17.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock valued at $65,549,000 after acquiring an additional 133,541 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at approximately $565,000. Janney Montgomery Scott LLC grew its position in shares of Planet Fitness by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,214 shares of the company’s stock valued at $1,184,000 after acquiring an additional 198 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Planet Fitness by 169.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after acquiring an additional 743 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLNT. BNP Paribas raised 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 report on Thursday, September 5th. Morgan Stanley restated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. DA Davidson restated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. BMO Capital Markets restated an “outperform” rating and set a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Insider Transactions at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction 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 owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.94% of the company’s stock.

Planet Fitness Price Performance

NYSE PLNT opened at $84.07 on Friday. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.93. The stock has a market capitalization of $7.41 billion, a PE ratio of 48.32, a P/E/G ratio of 2.75 and a beta of 1.49. The company’s 50 day simple moving average is $78.46 and its two-hundred day simple moving average is $69.66.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.44 EPS for the current year.

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.