Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 132.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,957 shares of the company’s stock after purchasing an additional 16,503 shares during the period. Tidal Investments LLC’s holdings in Planet Fitness were worth $2,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp lifted its position in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after buying an additional 124 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Planet Fitness in the 3rd quarter worth approximately $604,000. iSAM Funds UK Ltd purchased a new position in shares of Planet Fitness during the 3rd quarter worth approximately $312,000. State Street Corp increased its holdings in Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Planet Fitness by 149.2% in the third quarter. Quantinno Capital Management LP now owns 27,971 shares of the company’s stock valued at $2,272,000 after purchasing an additional 16,748 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

PLNT opened at $100.34 on Monday. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.88. The company has a market cap of $8.49 billion, a P/E ratio of 53.95, a PEG ratio of 3.33 and a beta of 1.53. The business’s 50-day simple moving average is $90.30 and its 200-day simple moving average is $81.38.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLNT. Morgan Stanley lifted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price for the company. Royal Bank of Canada increased their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a report on Thursday, September 5th. Five 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. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $93.38.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’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 transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.94% of the stock is owned by company insiders.

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.