Quest Partners LLC Has $772,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Quest Partners LLC lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 126.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,504 shares of the company’s stock after acquiring an additional 5,298 shares during the period. Quest Partners LLC’s holdings in Planet Fitness were worth $772,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 97,823 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after purchasing an additional 72,131 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after purchasing an additional 829,509 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Planet Fitness in the third quarter valued at about $13,592,000. Finally, ING Groep NV bought a new stake in Planet Fitness during the third quarter worth about $1,568,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 1.7 %

NYSE:PLNT opened at $99.91 on Friday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $100.63. The stock’s fifty day simple moving average is $84.61 and its 200-day simple moving average is $77.08. The firm has a market capitalization of $8.45 billion, a P/E ratio of 53.71, a P/E/G ratio of 3.25 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Macquarie reiterated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Robert W. Baird lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Roth Mkm increased their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley lifted their price target on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada increased their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $91.81.

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

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.