Algert Global LLC Has $2.35 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Algert Global LLC decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,964 shares of the company’s stock after selling 2,870 shares during the period. Algert Global LLC’s holdings in Planet Fitness were worth $2,352,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares during the last quarter. LRI Investments LLC increased its position in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares during the last quarter. Quarry LP lifted its holdings in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the period. Finally, Dnca Finance bought a new stake in shares of Planet Fitness in the second quarter worth $82,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $101.56 on Wednesday. The stock has a market capitalization of $8.59 billion, a PE ratio of 54.60, a price-to-earnings-growth ratio of 3.37 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.20. The stock has a 50 day moving average price of $85.36 and a two-hundred day moving average price of $77.83.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter last year, the firm posted $0.59 EPS. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLNT shares. Stifel Nicolaus raised their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. 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. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a report on Thursday, September 5th. Morgan Stanley increased their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Macquarie restated a “neutral” rating and issued a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued 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 $91.81.

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.