Walter Public Investments Inc. Boosts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Walter Public Investments Inc. grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,709 shares of the company’s stock after acquiring an additional 4,784 shares during the period. Planet Fitness accounts for 2.3% of Walter Public Investments Inc.’s holdings, making the stock its 26th biggest holding. Walter Public Investments Inc.’s holdings in Planet Fitness were worth $13,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PLNT. Creative Planning raised its holdings in shares of Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at $209,000. Diversified Trust Co boosted its holdings in Planet Fitness by 1.7% in the third quarter. Diversified Trust Co now owns 22,371 shares of the company’s stock worth $1,817,000 after acquiring an additional 366 shares in the last quarter. GAMMA Investing LLC grew its position in Planet Fitness by 396.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Planet Fitness by 39.9% during the third quarter. Handelsbanken Fonder AB now owns 22,081 shares of the company’s stock valued at $1,793,000 after buying an additional 6,300 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Robert W. Baird reissued an “outperform” rating and set a $92.00 target price on shares of Planet Fitness in a report on Monday, August 26th. Royal Bank of Canada boosted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler upped their target price on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Four equities 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. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $85.27.

Planet Fitness Price Performance

PLNT opened at $80.06 on Thursday. The business has a fifty day moving average price of $81.21 and a 200 day moving average price of $72.53. Planet Fitness, Inc. has a 12 month low of $52.38 and a 12 month high of $85.08. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 2.69 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. During the same quarter last year, the business posted $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.94% of the stock is owned by insiders.

Planet Fitness 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.