Lisanti Capital Growth LLC raised its holdings in Planet Fitness Inc (NYSE:PLNT) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,314 shares of the company’s stock after acquiring an additional 18,630 shares during the period. Planet Fitness comprises about 2.3% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 4th largest holding. Lisanti Capital Growth LLC owned about 0.11% of Planet Fitness worth $5,593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in Planet Fitness by 99.3% during the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after purchasing an additional 284 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $136,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $156,000. Sawtooth Solutions LLC acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $218,000. Finally, Virtu Financial LLC acquired a new position in shares of Planet Fitness during the 4th quarter worth about $227,000. 90.59% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on PLNT shares. Macquarie downgraded Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Monday, November 12th. Bank of America reiterated a “neutral” rating and issued a $68.00 price target (up previously from $62.00) on shares of Planet Fitness in a research note on Thursday, December 6th. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, January 1st. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Finally, DA Davidson raised their target price on shares of Planet Fitness to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.36.
In other news, Director David P. Berg sold 6,291 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the sale, the director now owns 6,615 shares of the company’s stock, valued at $408,343.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 15,500 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $60.53, for a total transaction of $938,215.00. The disclosure for this sale can be found here. Insiders sold 166,291 shares of company stock valued at $10,289,238 in the last ninety days. 16.38% of the stock is currently owned by insiders.
Shares of PLNT stock opened at $65.73 on Tuesday. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 53.88, a P/E/G ratio of 2.08 and a beta of 0.73. Planet Fitness Inc has a 12-month low of $35.92 and a 12-month high of $65.74.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The company had revenue of $174.40 million during the quarter, compared to the consensus estimate of $173.76 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was up 30.1% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness Inc will post 1.54 EPS for the current fiscal year.
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Planet Fitness Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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