GAMMA Investing LLC Increases Stake in Planet Fitness, Inc. (NYSE:PLNT)

GAMMA Investing LLC increased its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10,277.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,889 shares of the company's stock after acquiring an additional 214,799 shares during the period. GAMMA Investing LLC owned about 0.26% of Planet Fitness worth $20,954,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Planet Fitness by 436.5% during the 1st quarter. Versant Capital Management Inc now owns 1,089 shares of the company's stock valued at $105,000 after buying an additional 886 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Planet Fitness in the fourth quarter valued at about $265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Planet Fitness by 8.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,457 shares of the company's stock valued at $28,717,000 after acquiring an additional 22,687 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Planet Fitness by 1.3% during the fourth quarter. Tidal Investments LLC now owns 29,340 shares of the company's stock valued at $2,901,000 after acquiring an additional 383 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Planet Fitness by 177.9% during the fourth quarter. State of Wyoming now owns 7,423 shares of the company's stock worth $734,000 after purchasing an additional 4,752 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. BMO Capital Markets raised their price target on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Morgan Stanley lifted their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Roth Mkm reissued a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Planet Fitness Price Performance

NYSE PLNT traded down $2.98 during trading hours on Monday, reaching $102.60. 1,040,767 shares of the company's stock traded hands, compared to its average volume of 1,392,568. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $110.00. The firm has a 50-day simple moving average of $98.31 and a 200 day simple moving average of $99.72. The firm has a market cap of $8.64 billion, a PE ratio of 55.16, a PEG ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness 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.