Planet Fitness, Inc. $PLNT Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7,553.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,429 shares of the company’s stock after purchasing an additional 21,149 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Planet Fitness were worth $873,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PLNT. Parallel Advisors LLC grew its position in Planet Fitness by 16.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,337 shares of the company’s stock valued at $56,000 after buying an additional 185 shares during the last quarter. Allworth Financial LP raised its position in Planet Fitness by 15.5% during the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after buying an additional 228 shares during the last quarter. Fulton Bank N.A. raised its position in Planet Fitness by 3.9% during the 2nd quarter. Fulton Bank N.A. now owns 6,956 shares of the company’s stock worth $363,000 after buying an additional 262 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Planet Fitness by 2.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,663 shares of the company’s stock worth $577,000 after buying an additional 330 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Planet Fitness by 15.7% in the 1st quarter. KBC Group NV now owns 2,560 shares of the company’s stock worth $190,000 after acquiring an additional 348 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of PLNT stock opened at $60.19 on Friday. The business’s fifty day moving average price is $49.96 and its 200 day moving average price is $60.65. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.26. The firm has a market capitalization of $4.55 billion, a PE ratio of 20.40, a P/E/G ratio of 1.30 and a beta of 1.02.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. Planet Fitness had a negative return on equity of 47.24% and a net margin of 16.06%. The firm had revenue of $359.98 million during the quarter, compared to analysts’ expectations of $348.34 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. Planet Fitness’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that Planet Fitness, Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In related news, Director Christopher Tanco purchased 2,328 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $51.23 per share, for a total transaction of $119,263.44. Following the acquisition, the director directly owned 2,328 shares of the company’s stock, valued at $119,263.44. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William Bode sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the completion of the sale, the chief operating officer owned 32,939 shares of the company’s stock, valued at $1,687,135.58. This trade represents a 17.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Deutsche Bank reaffirmed a “hold” rating and issued a $55.00 target price on shares of Planet Fitness in a report on Wednesday, July 22nd. Royal Bank Of Canada increased their price target on shares of Planet Fitness from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Tuesday. Canaccord Genuity Group raised their price objective on shares of Planet Fitness from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company raised their price objective on shares of Planet Fitness from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $71.87.

Planet Fitness Company Profile

Planet Fitness, Inc. is a fitness club franchisor and operator known for its low-cost membership model and “Judgement Free Zone” approach. Its clubs offer cardio and strength-training equipment, along with access to fitness training and other member services. Founded in 1992, the company began franchising its clubs in 2003. Planet Fitness serves members primarily in the United States, as well as in several international markets, including Canada, Mexico and Australia. Planet Fitness is headquartered in Hampton, New Hampshire.