Advantage Alpha Capital Partners LP Reduces Position in Planet Fitness, Inc. (NYSE:PLNT)

Advantage Alpha Capital Partners LP decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 55.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,184 shares of the company’s stock after selling 39,125 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Planet Fitness were worth $2,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in Planet Fitness by 8.4% in the 1st quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock valued at $851,000 after acquiring an additional 1,057 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Planet Fitness by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock worth $116,453,000 after purchasing an additional 483,586 shares during the last quarter. Tidal Investments LLC increased its stake in Planet Fitness by 71.3% in the 1st quarter. Tidal Investments LLC now owns 4,941 shares of the company’s stock worth $309,000 after buying an additional 2,056 shares during the period. Virtu Financial LLC lifted its holdings in Planet Fitness by 72.2% during the 1st quarter. Virtu Financial LLC now owns 5,611 shares of the company’s stock valued at $351,000 after buying an additional 2,352 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Planet Fitness by 74.5% during the 1st quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock valued at $3,676,000 after buying an additional 25,054 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLNT has been the topic of several research analyst reports. Roth Mkm increased their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research report on Thursday, September 5th. Finally, Stifel Nicolaus upped their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Five investment 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 MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Stock Down 0.6 %

Planet Fitness stock opened at $100.95 on Tuesday. 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 200 day moving average price of $77.83. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 54.27, a price-to-earnings-growth ratio of 3.37 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. 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.