Verdence Capital Advisors LLC Grows Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Verdence Capital Advisors LLC raised its position in Planet Fitness, Inc. (NYSE:PLNT) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,047 shares of the company’s stock after purchasing an additional 132 shares during the period. Verdence Capital Advisors LLC’s holdings in Planet Fitness were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake 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 purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its holdings in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP lifted its position in Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Planet Fitness by 69.8% in 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. Finally, Dnca Finance purchased a new stake in Planet Fitness in the second quarter valued at approximately $82,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $94.70 on Wednesday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 3.18 and a beta of 1.49. The company has a 50 day moving average price of $82.33 and a 200 day moving average price of $75.47. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $98.59.

Planet Fitness (NYSE:PLNT) last posted 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm 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 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Planet Fitness, Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie restated a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Robert W. Baird upped their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm boosted their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

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.