Vanguard Personalized Indexing Management LLC Boosts Stake in Planet Fitness, Inc. (NYSE:PLNT)

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,779 shares of the company’s stock after purchasing an additional 947 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Planet Fitness were worth $498,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of Planet Fitness in the first quarter worth about $27,000. GAMMA Investing LLC raised its stake in 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 acquiring an additional 316 shares during the period. LRI Investments LLC raised its stake in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after acquiring an additional 153 shares during the period. Dnca Finance purchased a new position in Planet Fitness during the second quarter valued at approximately $82,000. Finally, Headlands Technologies LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $148,000. Institutional investors own 95.53% of the company’s stock.

Insider Activity

In other news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.94% of the company’s stock.

Analyst Ratings Changes

PLNT has been the topic of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $100.00 in a research report on Monday, June 10th. Bank of America upped their price objective on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on 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 reissued an “outperform” rating and issued a $92.00 price target on shares of Planet Fitness in a report on Monday, August 26th. Three 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.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Planet Fitness Stock Performance

Shares of PLNT opened at $82.73 on Friday. Planet Fitness, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $85.08. The company’s fifty day moving average is $79.30 and its 200 day moving average is $70.40. The stock has a market capitalization of $7.05 billion, a PE ratio of 47.55, a P/E/G ratio of 2.74 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million for 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%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. As a group, research analysts forecast 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.