Creative Planning Has $659,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Creative Planning increased its position in Planet Fitness, Inc. (NYSE:PLNT) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,952 shares of the company’s stock after buying an additional 1,277 shares during the period. Creative Planning’s holdings in Planet Fitness were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after buying an additional 316 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Planet Fitness by 61.2% in 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 last quarter. Fidelis Capital Partners LLC bought a new position in Planet Fitness in the 1st quarter valued at about $27,000. Dnca Finance bought a new position in Planet Fitness in the 2nd quarter valued at about $82,000. Finally, Headlands Technologies LLC acquired a new position in Planet Fitness during the 1st quarter valued at about $148,000. 95.53% of the stock is owned by institutional investors.

Insider Activity at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is currently owned by corporate insiders.

Planet Fitness Stock Up 0.6 %

Shares of NYSE:PLNT opened at $80.91 on Monday. The firm has a market capitalization of $7.13 billion, a PE ratio of 46.50, a P/E/G ratio of 2.69 and a beta of 1.49. The company has a 50-day moving average price of $80.79 and a two-hundred day moving average price of $72.19. Planet Fitness, Inc. has a twelve month low of $50.08 and a twelve month high of $85.08.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLNT. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $92.00 in a report on Monday, June 24th. Royal Bank of Canada upped their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler raised their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price objective 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. Four 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 stock. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $84.93.

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.