Planet Fitness, Inc. (NYSE:PLNT) Position Lowered by Pelham Capital Ltd.

by · The Markets Daily

Pelham Capital Ltd. decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 22.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,869 shares of the company’s stock after selling 60,125 shares during the quarter. Planet Fitness accounts for approximately 10.1% of Pelham Capital Ltd.’s holdings, making the stock its 4th biggest position. Pelham Capital Ltd.’s holdings in Planet Fitness were worth $16,964,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. LRI Investments LLC raised its position in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after acquiring an additional 153 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock worth $1,026,000 after purchasing an additional 174 shares in the last quarter. Creative Planning raised its holdings in Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after purchasing an additional 192 shares during the period. Louisiana State Employees Retirement System lifted its position in Planet Fitness by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after purchasing an additional 200 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Planet Fitness by 69.8% during the third 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 during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

PLNT stock traded up $1.74 during trading on Friday, hitting $80.49. 1,513,944 shares of the company’s stock traded hands, compared to its average volume of 1,559,326. The business has a fifty day simple moving average of $81.25 and a 200 day simple moving average of $72.68. Planet Fitness, Inc. has a 52 week low of $52.38 and a 52 week high of $85.08. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 44.22, a P/E/G ratio of 2.75 and a beta of 1.49.

Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Research analysts forecast that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on PLNT shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Roth Mkm upped their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird restated an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a research report on Monday, August 26th. BNP Paribas raised 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.27.

Check Out Our Latest Stock Report on Planet Fitness

Insiders Place Their Bets

In related news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

About Planet Fitness

(Free Report)

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.

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