Pacer Advisors Inc. Buys 423 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Pacer Advisors Inc. boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 3.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 13,146 shares of the company’s stock after acquiring an additional 423 shares during the quarter. Pacer Advisors Inc.’s holdings in Planet Fitness were worth $967,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its holdings in shares of Planet Fitness by 9.5% in the fourth quarter. Corient Private Wealth LLC now owns 11,671 shares of the company’s stock valued at $852,000 after purchasing an additional 1,017 shares in the last quarter. US Bancorp DE raised its position in Planet Fitness by 23.7% in the 4th quarter. US Bancorp DE now owns 11,882 shares of the company’s stock valued at $867,000 after buying an additional 2,273 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Planet Fitness by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 37,803 shares of the company’s stock valued at $2,760,000 after acquiring an additional 370 shares in the last quarter. Martin Currie Ltd. acquired a new position in Planet Fitness during the 4th quarter worth approximately $332,000. Finally, Armistice Capital LLC acquired a new position in Planet Fitness during the 4th quarter worth approximately $2,443,000. 95.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly 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 SEC, which is accessible through this link. 5.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a research report on Monday, June 10th. 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 research report on Thursday, September 5th. DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Finally, Robert W. Baird reissued an “outperform” rating and set a $92.00 price target on shares of Planet Fitness in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.93.

Planet Fitness Price Performance

Shares of PLNT opened at $80.48 on Friday. The firm has a market capitalization of $7.10 billion, a PE ratio of 46.25, a PEG ratio of 2.74 and a beta of 1.49. The company’s 50-day moving average is $79.38 and its 200-day moving average is $70.52. Planet Fitness, Inc. has a fifty-two week low of $45.94 and a fifty-two week high of $85.08.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data 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 firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

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.