GAMMA Investing LLC Has $207,000 Holdings in Planet Fitness, Inc. (NYSE:PLNT)

GAMMA Investing LLC lifted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090 shares of the company’s stock after acquiring an additional 192 shares during the period. GAMMA Investing LLC’s holdings in Planet Fitness were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. Quarry LP increased its holdings in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the period. V Square Quantitative Management LLC increased its stake in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares during the period. Point72 DIFC Ltd bought a new position in Planet Fitness during the second quarter valued at about $200,000. Point72 Hong Kong Ltd acquired a new position in Planet Fitness in the 3rd quarter valued at approximately $200,000. Finally, KBC Group NV lifted its position in shares of Planet Fitness by 14.7% in the 3rd quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after acquiring an additional 321 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 2.7 %

Shares of NYSE:PLNT opened at $98.60 on Wednesday. The firm has a market cap of $8.34 billion, a P/E ratio of 53.01, a P/E/G ratio of 3.33 and a beta of 1.52. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $102.90. The company’s 50-day moving average price is $96.85 and its two-hundred day moving average price is $85.06.

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

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday. Raymond James raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. Finally, Macquarie reaffirmed a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.13.

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.