Planet Fitness, Inc. (NYSE:PLNT) Shares Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 100.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,972 shares of the company’s stock after purchasing an additional 10,518 shares during the period. Qsemble Capital Management LP’s holdings in Planet Fitness were worth $1,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLNT. 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 acquiring an additional 316 shares during the last quarter. LRI Investments LLC grew its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the period. V Square Quantitative Management LLC lifted its position in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares during the period. Quarry LP lifted its position in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance acquired a new stake in Planet Fitness in the 2nd quarter worth about $82,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PLNT. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price on the stock. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Thursday, September 5th. Morgan Stanley lifted their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada upped their price target on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.81.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the company’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 transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $100.95 on Tuesday. The firm’s fifty day moving average price is $85.36 and its 200 day moving average price is $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, Inc. has a 12-month low of $54.35 and a 12-month high of $102.20.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share 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.