Walter Public Investments Inc. Buys 17,950 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Walter Public Investments Inc. increased its stake in Planet Fitness, Inc. by 10.4% in Q2, holding 190,794 shares valued at approximately $20.8 million.
• Institutional investors own a significant 95.53% of Planet Fitness's stock, indicating strong institutional confidence in the company.
• Analysts maintain a consensus rating of "Moderate Buy" for Planet Fitness, with an average price target of $108.64.

Walter Public Investments Inc. raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,794 shares of the company's stock after acquiring an additional 17,950 shares during the period. Planet Fitness makes up 3.5% of Walter Public Investments Inc.'s investment portfolio, making the stock its 13th largest position. Walter Public Investments Inc. owned about 0.23% of Planet Fitness worth $20,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. Lazard Asset Management LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at about $57,000. ProShare Advisors LLC raised its holdings in shares of Planet Fitness by 6.8% in the 4th quarter. ProShare Advisors LLC now owns 3,939 shares of the company's stock valued at $389,000 after acquiring an additional 252 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Planet Fitness by 8.5% in the 4th 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 in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at about $265,000. Finally, Versant Capital Management Inc raised its holdings in shares of Planet Fitness by 436.5% in the 1st quarter. Versant Capital Management Inc now owns 1,089 shares of the company's stock valued at $105,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Up 0.9%

Shares of NYSE PLNT traded up $0.93 during trading hours on Monday, reaching $101.93. 1,035,404 shares of the stock traded hands, compared to its average volume of 1,458,427. The company's 50-day simple moving average is $106.57 and its two-hundred day simple moving average is $102.50. The company has a market capitalization of $8.59 billion, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. 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 issued its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million for the quarter, compared to analysts' expectations of $329.59 million. During the same quarter last year, the business earned $0.71 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Canaccord Genuity Group reissued a "buy" rating and set a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

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.