Diversified Trust Co Boosts Stake in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co lifted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,371 shares of the company’s stock after purchasing an additional 366 shares during the period. Diversified Trust Co’s holdings in Planet Fitness were worth $1,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares in the last quarter. Cadian Capital Management LP increased its stake in Planet Fitness by 9.6% in the 4th quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock worth $323,417,000 after buying an additional 386,861 shares in the last quarter. Dorsal Capital Management LP increased its stake in Planet Fitness by 7.7% in the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after buying an additional 207,193 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Planet Fitness in the 2nd quarter worth $166,978,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Planet Fitness by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock worth $116,453,000 after buying an additional 483,586 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 2.6 %

Shares of NYSE:PLNT opened at $81.20 on Tuesday. Planet Fitness, Inc. has a 12 month low of $47.18 and a 12 month high of $85.08. The company has a 50-day moving average price of $80.19 and a 200 day moving average price of $71.60. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 46.67, a PEG ratio of 2.76 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 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 firm 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 earned $0.65 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLNT. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Roth Mkm increased their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective for the company. Finally, Piper Sandler raised their price objective on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.93.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.94% of the stock is owned by insiders.

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.