Emerald Mutual Fund Advisers Trust increased its position in Planet Fitness Inc. (NYSE:PLNT) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,648 shares of the company’s stock after buying an additional 7,610 shares during the period. Emerald Mutual Fund Advisers Trust owned 1.50% of Planet Fitness worth $10,396,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Copper Rock Capital Partners LLC bought a new stake in Planet Fitness during the second quarter worth $19,279,000. Eagle Asset Management Inc. bought a new stake in Planet Fitness during the second quarter worth $16,199,000. Spark Investment Management LLC bought a new stake in Planet Fitness during the first quarter worth $2,994,000. Capital One National Association bought a new stake in Planet Fitness during the second quarter worth $1,417,000. Finally, Barclays PLC increased its stake in Planet Fitness by 110.2% in the first quarter. Barclays PLC now owns 28,800 shares of the company’s stock worth $461,000 after buying an additional 15,100 shares during the last quarter. 83.52% of the stock is owned by institutional investors and hedge funds.
Shares of Planet Fitness Inc. (NYSE:PLNT) traded down 0.15% during trading on Thursday, reaching $19.95. The company had a trading volume of 294,889 shares. Planet Fitness Inc. has a 12 month low of $13.23 and a 12 month high of $23.41. The stock has a 50 day moving average price of $20.78 and a 200 day moving average price of $18.58. The firm’s market capitalization is $887.56 million.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, August 11th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Planet Fitness had a return on equity of 2,244.54% and a net margin of 1.74%. The firm earned $91.50 million during the quarter, compared to analyst estimates of $78.95 million. During the same period in the previous year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts forecast that Planet Fitness Inc. will post $0.47 EPS for the current year.
A number of analysts have recently weighed in on PLNT shares. Credit Suisse Group AG reissued an “outperform” rating and set a $19.00 price target on shares of Planet Fitness in a research report on Monday, June 27th. Piper Jaffray Cos. reissued an “overweight” rating and set a $21.00 price target (up previously from $20.00) on shares of Planet Fitness in a research report on Wednesday, June 29th. Imperial Capital raised their price target on shares of Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Wedbush reissued an “outperform” rating and set a $23.00 price target (up previously from $21.00) on shares of Planet Fitness in a research report on Thursday, August 11th. Finally, Jefferies Group reissued a “buy” rating and set a $26.00 price target (up previously from $25.00) on shares of Planet Fitness in a research report on Friday, August 12th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $21.95.
In related news, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $19.76, for a total value of $395,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pierre Lecomte sold 8,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $19.62, for a total value of $156,960,000.00. The disclosure for this sale can be found here. 32.39% of the stock is owned by corporate insiders.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise, Corporate-owned stores and Equipment. The Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc. (NYSE:PLNT).
Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with MarketBeat.com's FREE daily email newsletter.