Qsemble Capital Management LP Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Qsemble Capital Management LP bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,454 shares of the company’s stock, valued at approximately $769,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its holdings 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 buying an additional 153 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $27,000. Dnca Finance purchased a new stake in shares of Planet Fitness during the second quarter valued at approximately $82,000. Finally, Quadrant Capital Group LLC increased its position in shares of Planet Fitness by 169.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after acquiring an additional 743 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLNT shares. Bank of America upped their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. 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 report on Wednesday, August 7th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $92.00 in a report on Monday, June 24th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.87.

Planet Fitness Price Performance

Shares of PLNT opened at $82.39 on Friday. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 2.72 and a beta of 1.49. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $83.98. The company has a 50-day moving average of $77.85 and a 200 day moving average of $69.19.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Planet Fitness 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.