Walter Public Investments Inc. Acquires 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. boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,794 shares of the company's stock after acquiring an additional 17,950 shares during the period. Planet Fitness accounts for about 3.5% of Walter Public Investments Inc.'s portfolio, making the stock its 13th biggest position. Walter Public Investments Inc. owned about 0.23% of Planet Fitness worth $20,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PLNT. Lazard Asset Management LLC bought a new position in Planet Fitness during the 4th quarter worth $57,000. ProShare Advisors LLC increased its stake in Planet Fitness by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 3,939 shares of the company's stock worth $389,000 after acquiring an additional 252 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Planet Fitness by 8.5% during 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 worth $28,717,000 after acquiring an additional 22,687 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Planet Fitness during the 4th quarter worth $265,000. Finally, Versant Capital Management Inc increased its stake 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 purchasing an additional 886 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Down 1.3%

PLNT traded down $1.33 during midday trading on Tuesday, hitting $100.46. 534,416 shares of the company were exchanged, compared to its average volume of 1,453,091. The firm has a market capitalization of $8.46 billion, a P/E ratio of 44.67, a P/E/G ratio of 2.25 and a beta of 1.37. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47. The firm's 50 day moving average price is $106.39 and its 200-day moving average price is $102.53.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLNT. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price target on shares of Planet Fitness in a research note on Monday, September 15th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

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.