Twinbeech Capital LP purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 146,771 shares of the company's stock, valued at approximately $8,463,000. Twinbeech Capital LP owned about 0.16% of Planet Fitness as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in Planet Fitness during the third quarter valued at approximately $421,000. Platinum Investment Management Ltd. lifted its position in Planet Fitness by 56.1% during the third quarter. Platinum Investment Management Ltd. now owns 189,227 shares of the company's stock valued at $10,911,000 after purchasing an additional 67,969 shares in the last quarter. Petrus Trust Company LTA bought a new position in shares of Planet Fitness in the third quarter worth about $219,000. Marshall Wace LLP purchased a new position in shares of Planet Fitness during the 3rd quarter valued at about $2,787,000. Finally, Echo Street Capital Management LLC increased its holdings in Planet Fitness by 150.9% in the 3rd quarter. Echo Street Capital Management LLC now owns 11,942 shares of the company's stock worth $689,000 after acquiring an additional 7,182 shares in the last quarter. Institutional investors own 94.56% of the company's stock.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Planet Fitness from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Monday, February 27th. Stifel Nicolaus upped their price target on Planet Fitness from $82.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, January 13th. Cowen raised their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, November 16th. Robert W. Baird increased their price objective on shares of Planet Fitness from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Friday, February 24th. Finally, BMO Capital Markets lifted their target price on Planet Fitness from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, November 9th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average target price of $93.69.

Planet Fitness Trading Down 0.4 %

Shares of NYSE:PLNT opened at $80.72 on Thursday. Planet Fitness, Inc. has a 12-month low of $54.15 and a 12-month high of $88.31. The business has a 50 day moving average of $81.23 and a two-hundred day moving average of $73.08. The company has a market capitalization of $7.23 billion, a PE ratio of 68.99, a PEG ratio of 1.51 and a beta of 1.30.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. The business had revenue of $281.30 million for the quarter, compared to analyst estimates of $271.48 million. During the same period in the prior year, the company posted $0.26 EPS. The company's revenue for the quarter was up 53.2% on a year-over-year basis. Equities research analysts predict that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.

About Planet Fitness

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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.

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