Dark Forest Capital Management LP Has $241,000 Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Dark Forest Capital Management LP trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,271 shares of the company’s stock after selling 397 shares during the quarter. Dark Forest Capital Management LP’s holdings in Planet Fitness were worth $241,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC increased its holdings in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after purchasing an additional 174 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after purchasing an additional 200 shares during the period. Diversified Trust Co lifted its stake in shares of Planet Fitness by 1.5% in the first quarter. Diversified Trust Co now owns 20,564 shares of the company’s stock worth $1,288,000 after buying an additional 308 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after buying an additional 316 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLNT. DA Davidson reissued a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Roth Mkm boosted their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Four 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’s stock. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $84.93.

Insider Transactions at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by insiders.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $80.48 on Monday. The firm has a fifty day moving average of $79.38 and a 200-day moving average of $70.62. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 46.25, a P/E/G ratio of 2.79 and a beta of 1.49. Planet Fitness, Inc. has a 52-week low of $45.94 and a 52-week high of $85.08.

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 the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

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.