Natixis Advisors LLC Purchases New Position in Planet Fitness, Inc. (NYSE:PLNT)

Natixis Advisors LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,529 shares of the company’s stock, valued at approximately $855,000.

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

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $101.02 on Thursday. The company has a market capitalization of $8.55 billion, a PE ratio of 54.10, a PEG ratio of 3.36 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.81. The company has a 50 day moving average price of $85.75 and a two-hundred day moving average price of $78.09.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (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 company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLNT shares. Roth Mkm raised their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. Bank of America increased their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Macquarie restated a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Five 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 stock. Based on data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

Insiders Place Their Bets

In other Planet Fitness 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 transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.