Verdence Capital Advisors LLC Purchases Shares of 2,915 Planet Fitness, Inc. (NYSE:PLNT)

Verdence Capital Advisors LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,915 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently bought and sold shares of PLNT. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the first quarter valued at approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness during the second quarter worth $82,000. Institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.94% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $81.87 on Tuesday. The business has a 50 day moving average of $75.65 and a 200-day moving average of $67.77. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $82.82. The company has a market capitalization of $7.22 billion, a P/E ratio of 47.05, a P/E/G ratio of 2.65 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The company had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on PLNT. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Raymond James boosted their target price on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Piper Sandler boosted their target price on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Four equities research 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 company. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $79.87.

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.