Panagora Asset Management Inc. Takes $627,000 Position in Planet Fitness Inc (NYSE:PLNT)

Panagora Asset Management Inc. bought a new stake in Planet Fitness Inc (NYSE:PLNT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,659 shares of the company’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. Geode Capital Management LLC grew its stake in Planet Fitness by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 965,938 shares of the company’s stock valued at $51,792,000 after acquiring an additional 66,192 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Planet Fitness by 88.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock valued at $74,000 after acquiring an additional 506 shares during the last quarter. Strs Ohio grew its stake in Planet Fitness by 5.5% in the 1st quarter. Strs Ohio now owns 15,300 shares of the company’s stock valued at $1,051,000 after acquiring an additional 800 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Planet Fitness by 50.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,395 shares of the company’s stock valued at $1,127,000 after acquiring an additional 5,511 shares during the last quarter. Finally, Swarthmore Group Inc. acquired a new stake in Planet Fitness in the 1st quarter valued at about $794,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.

Shares of Planet Fitness stock traded down $0.42 during mid-day trading on Friday, hitting $66.82. 15,594 shares of the stock were exchanged, compared to its average volume of 1,267,852. Planet Fitness Inc has a twelve month low of $44.97 and a twelve month high of $81.90. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 54.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.59. The company has a 50-day simple moving average of $74.93 and a 200 day simple moving average of $71.56.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. The business had revenue of $181.66 million for the quarter, compared to analysts’ expectations of $167.91 million. During the same period last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 29.2% on a year-over-year basis. As a group, equities research analysts expect that Planet Fitness Inc will post 1.57 earnings per share for the current year.

PLNT has been the topic of a number of research reports. Macquarie raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $64.00 to $85.00 in a research note on Tuesday, May 7th. Imperial Capital reaffirmed an “in-line” rating and set a $72.50 price target (up from $55.00) on shares of Planet Fitness in a research note on Friday, August 9th. Cowen reaffirmed an “average” rating and set a $85.00 price target (up from $65.00) on shares of Planet Fitness in a research note on Monday, April 29th. Raymond James initiated coverage on shares of Planet Fitness in a research note on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Planet Fitness currently has an average rating of “Buy” and a consensus target price of $76.12.

About Planet Fitness

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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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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