Stormborn Capital Management LLC raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 70.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,000 shares of the company's stock after purchasing an additional 70,000 shares during the period. Planet Fitness comprises 4.2% of Stormborn Capital Management LLC's portfolio, making the stock its 8th biggest position. Stormborn Capital Management LLC's holdings in Planet Fitness were worth $9,802,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sandy Spring Bank raised its position in Planet Fitness by 25.0% during the 3rd quarter. Sandy Spring Bank now owns 2,500 shares of the company's stock valued at $144,000 after purchasing an additional 500 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Planet Fitness by 14.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,149,179 shares of the company's stock valued at $78,155,000 after acquiring an additional 145,821 shares during the period. Teca Partners LP purchased a new position in shares of Planet Fitness in the 2nd quarter valued at $1,306,000. FMR LLC increased its holdings in shares of Planet Fitness by 9.0% in the 2nd quarter. FMR LLC now owns 1,653,529 shares of the company's stock valued at $112,457,000 after acquiring an additional 136,191 shares during the period. Finally, Tudor Investment Corp Et Al purchased a new position in shares of Planet Fitness in the 3rd quarter valued at $8,260,000. 94.56% of the stock is owned by institutional investors.
Get Planet Fitness alerts:Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on PLNT shares. Robert W. Baird lifted their price target on Planet Fitness from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Friday, February 24th. DA Davidson reiterated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a report on Friday, February 24th. Raymond James lifted their price target on Planet Fitness from $92.00 to $95.00 and gave the company a "strong-buy" rating in a report on Friday, February 24th. Cowen lifted their price target on Planet Fitness from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, February 27th. Finally, Cowen boosted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.69.
Planet Fitness Price Performance
Planet Fitness stock traded down $0.53 during trading hours on Thursday, hitting $80.19. 21,945 shares of the stock traded hands, compared to its average volume of 963,628. The firm's 50 day moving average price is $81.23 and its 200-day moving average price is $73.08. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 68.99, a P/E/G ratio of 1.51 and a beta of 1.30. Planet Fitness, Inc. has a 1 year low of $54.15 and a 1 year high of $88.31.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. The business had revenue of $281.30 million for the quarter, compared to the consensus estimate of $271.48 million. Planet Fitness had a negative return on equity of 65.39% and a net margin of 10.61%. The company's quarterly revenue was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. Research analysts forecast that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.
About Planet Fitness
(Get Rating)
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company's franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
Recommended Stories
- Get a free copy of the StockNews.com research report on Planet Fitness (PLNT)
- BJ's Wholesale Club Stock Moves Higher After Strong Results
- Monthly Realty Income is About to Get Bigger
- 3 Large Cap Dividend Challengers for Millennial Investors
- Sea Ltd Is On The Verge Of A 100% Rally, Should You Buy?
- REV Group Hits A Wall Despite Results And Outlook
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT – Get Rating).
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.