Swiss National Bank boosted its stake in Planet Fitness Inc. (NYSE:PLNT) by 43.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,085 shares of the company’s stock after buying an additional 13,000 shares during the period. Swiss National Bank owned approximately 0.12% of Planet Fitness worth $813,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Societe Generale purchased a new position in shares of Planet Fitness during the second quarter valued at about $222,000. State of New Jersey Common Pension Fund D increased its position in shares of Planet Fitness by 64.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 115,000 shares of the company’s stock worth $2,171,000 after buying an additional 45,000 shares during the period. Rail Splitter Capital Management LLC increased its position in shares of Planet Fitness by 11.9% in the second quarter. Rail Splitter Capital Management LLC now owns 354,615 shares of the company’s stock worth $6,695,000 after buying an additional 37,701 shares during the period. Monashee Investment Management LLC increased its position in shares of Planet Fitness by 476.9% in the second quarter. Monashee Investment Management LLC now owns 74,994 shares of the company’s stock worth $1,416,000 after buying an additional 61,994 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Planet Fitness by 122.7% in the second quarter. Bank of New York Mellon Corp now owns 117,057 shares of the company’s stock worth $2,211,000 after buying an additional 64,500 shares during the period. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Shares of Planet Fitness Inc. (NYSE:PLNT) traded down 0.60% during mid-day trading on Friday, reaching $19.83. 628,973 shares of the company’s stock were exchanged. The company’s market capitalization is $882.22 million. Planet Fitness Inc. has a one year low of $13.23 and a one year high of $23.41. The company’s 50-day moving average price is $20.68 and its 200-day moving average price is $18.62.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Planet Fitness had a net margin of 1.74% and a return on equity of 2,244.54%. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $78.95 million. During the same quarter in the previous year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness Inc. will post $0.47 earnings per share for the current year.
PLNT has been the topic of a number of research analyst reports. Credit Suisse Group AG restated an “outperform” rating and set a $19.00 price objective on shares of Planet Fitness in a research report on Monday, June 27th. Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 price objective (up previously from $20.00) on shares of Planet Fitness in a research report on Wednesday, June 29th. Imperial Capital upped their target price on shares of Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Planet Fitness in a report on Thursday, August 11th. Finally, Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.95.
In other news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $19.76, for a total value of $395,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Richard L. Moore sold 8,200 shares of Planet Fitness stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $21.00, for a total transaction of $172,200.00. Following the completion of the transaction, the insider now directly owns 8,200 shares in the company, valued at approximately $172,200. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by 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.
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