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

GAMMA Investing LLC boosted its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10,277.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,889 shares of the company's stock after purchasing 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.

Other large investors have also made changes to their positions in the company. CoreCap Advisors LLC increased its stake in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the period. Lazard Asset Management LLC purchased a new stake in Planet Fitness in the fourth quarter worth about $57,000. Versant Capital Management Inc raised its stake in shares of Planet Fitness by 436.5% in the first quarter. Versant Capital Management Inc now owns 1,089 shares of the company's stock worth $105,000 after buying an additional 886 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Planet Fitness during the 4th quarter valued at about $203,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Planet Fitness stock traded up $0.42 during trading hours on Friday, hitting $105.58. The company had a trading volume of 1,175,250 shares, compared to its average volume of 1,397,343. The firm has a market cap of $8.89 billion, a P/E ratio of 56.76, a P/E/G ratio of 2.45 and a beta of 1.33. The company has a 50-day moving average price of $98.31 and a two-hundred day moving average price of $99.71. Planet Fitness, Inc. has a 1 year low of $65.23 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLNT. BMO Capital Markets increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Morgan Stanley increased their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Guggenheim restated a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Roth Mkm reaffirmed a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group assumed coverage on Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $105.11.

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.