GAMMA Investing LLC Has $207,000 Stake in Planet Fitness, Inc. (NYSE:PLNT)

GAMMA Investing LLC raised its position in Planet Fitness, Inc. (NYSE:PLNT) by 10.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,090 shares of the company’s stock after buying an additional 192 shares during the period. GAMMA Investing LLC’s holdings in Planet Fitness were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP raised its stake in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after acquiring an additional 201 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Planet Fitness during the second quarter worth about $200,000. Point72 Hong Kong Ltd bought a new position in shares of Planet Fitness during the 3rd quarter valued at about $200,000. Finally, KBC Group NV grew its position in shares of Planet Fitness by 14.7% in the 3rd quarter. KBC Group NV now owns 2,503 shares of the company’s stock valued at $203,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PLNT. Morgan Stanley raised their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler increased their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday. Macquarie reaffirmed a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, DA Davidson lifted their target price on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.13.

Planet Fitness Trading Down 2.7 %

NYSE PLNT opened at $98.60 on Wednesday. The firm’s fifty day moving average price is $96.85 and its two-hundred day moving average price is $85.06. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.90. The firm has a market capitalization of $8.34 billion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 3.33 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. During the same period in the prior year, the firm earned $0.59 EPS. Planet Fitness’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal 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.