GAMMA Investing LLC Has $154,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

GAMMA Investing LLC increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 396.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,898 shares of the company’s stock after buying an additional 1,516 shares during the quarter. GAMMA Investing LLC’s holdings in Planet Fitness were worth $154,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after buying an additional 97,823 shares in the last quarter. Dorsal Capital Management LP boosted its holdings in Planet Fitness by 7.7% during the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after purchasing an additional 207,193 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Planet Fitness during the second quarter valued at approximately $166,978,000. Price T Rowe Associates Inc. MD boosted its holdings in Planet Fitness by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after purchasing an additional 483,586 shares in the last quarter. Finally, Anomaly Capital Management LP acquired a new stake in Planet Fitness during the second quarter valued at approximately $106,795,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the sale, the chief accounting officer now owns 6,778 shares in the company, valued at approximately $524,549.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective on the stock. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $92.00 target price on shares of Planet Fitness in a research note on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.93.

Planet Fitness Price Performance

PLNT stock opened at $80.91 on Friday. The company has a 50 day moving average price of $80.79 and a 200 day moving average price of $72.11. Planet Fitness, Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $85.08. The stock has a market capitalization of $6.89 billion, a PE ratio of 44.46, a price-to-earnings-growth ratio of 2.69 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share 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 analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. Planet Fitness’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities analysts expect 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.