Lecap Asset Management Ltd. Makes New $483,000 Investment in Planet Fitness, Inc. $PLNT

Key Points

• Lecap Asset Management Ltd. has made a new investment of approximately $483,000 in Planet Fitness, acquiring 4,433 shares during the second quarter.
• Institutional investors collectively own 95.53% of Planet Fitness stock, with multiple hedge funds significantly increasing their stakes in the company.
• Planet Fitness reported earnings of $0.86 per share for the last quarter, exceeding analysts' expectations and reflecting a 13.3% year-over-year revenue increase.

Lecap Asset Management Ltd. bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,433 shares of the company's stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its stake in Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Planet Fitness in the first quarter worth about $65,000. Finally, Friedenthal Financial acquired a new stake in Planet Fitness during the first quarter valued at approximately $76,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

NYSE:PLNT opened at $102.80 on Friday. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 45.69, a PEG ratio of 2.29 and a beta of 1.38. Planet Fitness, Inc. has a 1 year low of $77.77 and a 1 year high of $114.47. The business has a fifty day moving average of $105.06 and a 200-day moving average of $102.89.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The business had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Upgrades and Downgrades

PLNT has been the subject of several research reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $111.54.

Planet Fitness Company Profile

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.

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