Whittier Trust Co. of Nevada Inc. Has $4.15 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,125 shares of the company’s stock after buying an additional 1,531 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.06% of Planet Fitness worth $4,152,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Piper Sandler increased their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Bank of America upped their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.27.

Insider Buying and Selling at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the 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 sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.94% of the company’s stock.

Planet Fitness Price Performance

PLNT opened at $79.16 on Tuesday. The company’s 50 day simple moving average is $81.25 and its 200-day simple moving average is $72.81. Planet Fitness, Inc. has a one year low of $52.38 and a one year high of $85.08. The stock has a market capitalization of $6.98 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49.

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