Planet Fitness, Inc. (NYSE:PLNT) Stake Boosted by Walter Public Investments Inc.

Walter Public Investments Inc. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,709 shares of the company’s stock after purchasing an additional 4,784 shares during the period. Planet Fitness makes up 2.3% of Walter Public Investments Inc.’s portfolio, making the stock its 26th biggest position. Walter Public Investments Inc. owned about 0.18% of Planet Fitness worth $13,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning grew its holdings in Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after buying an additional 192 shares during the last quarter. Fulton Bank N.A. bought a new stake in Planet Fitness during the third quarter worth about $209,000. Diversified Trust Co increased its stake in shares of Planet Fitness by 1.7% in the third quarter. Diversified Trust Co now owns 22,371 shares of the company’s stock valued at $1,817,000 after buying an additional 366 shares in the last quarter. GAMMA Investing LLC raised its position in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Planet Fitness by 39.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,081 shares of the company’s stock valued at $1,793,000 after purchasing an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

PLNT stock opened at $80.06 on Thursday. Planet Fitness, Inc. has a 52 week low of $52.38 and a 52 week high of $85.08. The firm’s fifty day moving average is $81.21 and its 200 day moving average is $72.53. The firm has a market cap of $7.06 billion, a P/E ratio of 46.01, a P/E/G ratio of 2.69 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.71 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 analysts’ expectations of $290.17 million. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the firm’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 transaction of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares in the company, valued at approximately $524,549.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PLNT. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $92.00 in a research note on Monday, June 24th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. Four 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.27.

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.