Everence Capital Management Inc. Buys New Shares in Planet Fitness, Inc. (NYSE:PLNT)

Everence Capital Management Inc. purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,430 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp lifted its position in Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after buying an additional 124 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Planet Fitness by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after acquiring an additional 132 shares in the last quarter. Creative Planning lifted its holdings in shares of Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after purchasing an additional 192 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.94% of the stock is currently owned by corporate insiders.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $100.87 on Thursday. The firm has a market capitalization of $8.53 billion, a P/E ratio of 54.23, a P/E/G ratio of 3.33 and a beta of 1.52. The stock has a 50 day moving average price of $97.30 and a 200-day moving average price of $85.17. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $102.90.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

PLNT has been the subject of several recent research reports. Robert W. Baird boosted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada raised their target price on shares of Planet Fitness from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Five 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. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $96.13.

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.