Versor Investments LP Buys New Shares in Planet Fitness, Inc. $PLNT

Key Points

• Versor Investments LP has invested approximately $1.55 million in Planet Fitness, acquiring 15,993 shares during the first quarter.
• Significant interest in Planet Fitness is reflected by other hedge funds, with T. Rowe Price increasing its stake by 48.1% and Invesco seeing a 358.0% increase.
• Planet Fitness reported quarterly earnings beating estimates, with earnings per share of $0.86, up from $0.71 the previous year, alongside a 13.3% revenue increase year-over-year.

Versor Investments LP acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,993 shares of the company's stock, valued at approximately $1,545,000.

Several other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings 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 valued at $36,000 after buying an additional 242 shares during the last quarter. CoreCap Advisors LLC increased its holdings 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. Farther Finance Advisors LLC raised its stake in shares of 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 during the last quarter. Lazard Asset Management LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at $57,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Planet Fitness during the first quarter valued at $65,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several research analyst reports. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Guggenheim reissued a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Morgan Stanley raised their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.38.

Planet Fitness Trading Down 0.8%

Planet Fitness stock traded down $0.89 during trading on Wednesday, reaching $107.41. The company had a trading volume of 1,244,584 shares, compared to its average volume of 1,512,659. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 47.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. The firm's 50-day simple moving average is $108.04 and its 200 day simple moving average is $101.90. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47.

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