Larson Financial Group LLC Has $246,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Larson Financial Group LLC raised its position in Planet Fitness, Inc. (NYSE:PLNT) by 151,050.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,023 shares of the company’s stock after purchasing an additional 3,021 shares during the period. Larson Financial Group LLC’s holdings in Planet Fitness were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. GAMMA Investing LLC lifted its position in shares of Planet Fitness by 478.8% during 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 period. LRI Investments LLC lifted its position in shares of Planet Fitness by 61.2% during 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. Quarry LP lifted its position in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Planet Fitness by 69.8% during the 3rd 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 period. Finally, Dnca Finance bought a new stake in shares of Planet Fitness during the 2nd quarter valued at $82,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLNT has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Roth Mkm upped their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, 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 research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

Planet Fitness Stock Down 0.5 %

Shares of PLNT opened at $101.02 on Thursday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $102.81. The business has a 50-day simple moving average of $85.75 and a two-hundred day simple moving average of $78.09. The stock has a market cap of $8.55 billion, a PE ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49.

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

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.

About Planet Fitness

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.