Seven Eight Capital LP Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Seven Eight Capital LP purchased a new stake in Planet Fitness, Inc. (NYSE:PLNTFree Report) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 19,909 shares of the company’s stock, valued at approximately $979,000.

Several other large investors also recently added to or reduced their stakes in PLNT. PNC Financial Services Group Inc. boosted its stake in Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after buying an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Planet Fitness during the first quarter worth about $357,000. BlackRock Inc. lifted its stake in Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in Planet Fitness during the first quarter worth about $919,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $66.92 on Friday. The company has a market cap of $5.90 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of 1.30 and a beta of 1.40. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.48. The stock’s fifty day moving average price is $69.11 and its 200-day moving average price is $62.85.

Planet Fitness (NYSE:PLNTGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. As a group, analysts expect that Planet Fitness, Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Morgan Stanley decreased their price objective on Planet Fitness from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada lifted their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus decreased their price objective on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Check Out Our Latest Report on PLNT

Insider Buying and Selling

In related news, CEO Craig R. Benson bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average cost of $68.15 per share, with a total value of $681,500.00. Following the acquisition, the chief executive officer now owns 35,000 shares in the company, valued at $2,385,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.94% of the stock is owned by insiders.

About Planet Fitness

(Free Report)

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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

See Also

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:PLNTFree Report).

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

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