XTX Topco Ltd Buys 14,385 Shares of Planet Fitness, Inc. (NYSE:PLNT)

XTX Topco Ltd increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 173.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,674 shares of the company’s stock after purchasing an additional 14,385 shares during the period. XTX Topco Ltd’s holdings in Planet Fitness were worth $1,669,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dorsal Capital Management LP purchased a new position in Planet Fitness during the fourth quarter worth about $182,500,000. William Blair Investment Management LLC bought a new position in shares of Planet Fitness in the second quarter worth approximately $166,978,000. Greenvale Capital LLP increased its position in shares of Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares during the last quarter. Norges Bank purchased a new stake in Planet Fitness in the fourth quarter valued at approximately $65,674,000. Finally, Steadfast Capital Management LP lifted its position in Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock valued at $86,546,000 after purchasing an additional 682,863 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $84.07 on Friday. The firm has a market cap of $7.41 billion, a P/E ratio of 48.32, a P/E/G ratio of 2.75 and a beta of 1.49. The business’s 50 day moving average price is $78.46 and its 200-day moving average price is $69.66. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $84.93.

Planet Fitness (NYSE:PLNT) 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. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. During the same period in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

PLNT has been the topic of a number of research analyst reports. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Robert W. Baird reissued an “outperform” rating and issued a $92.00 target price on shares of Planet Fitness in a research note on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a research report on Thursday, September 5th. Finally, Roth Mkm boosted their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness 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 sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.94% of the stock is owned by insiders.

About Planet Fitness

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.