Hussman Strategic Advisors Inc. Acquires Shares of 10,500 Planet Fitness, Inc. $PLNT

Hussman Strategic Advisors Inc. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,500 shares of the company’s stock, valued at approximately $1,145,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLNT. State of Michigan Retirement System increased its holdings in Planet Fitness by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock worth $2,203,000 after purchasing an additional 100 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in Planet Fitness during the 2nd quarter valued at $222,000. Simon Quick Advisors LLC increased its position in shares of Planet Fitness by 12.8% in the 2nd quarter. Simon Quick Advisors LLC now owns 4,958 shares of the company’s stock worth $541,000 after purchasing an additional 564 shares during the last quarter. Amalgamated Bank raised its stake in shares of Planet Fitness by 3.7% in the 2nd quarter. Amalgamated Bank now owns 40,776 shares of the company’s stock valued at $4,447,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Planet Fitness by 2.2% in the second quarter. Assetmark Inc. now owns 12,602 shares of the company’s stock worth $1,374,000 after purchasing an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

PLNT has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Planet Fitness from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. UBS Group began coverage on Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $113.00.

Planet Fitness Trading Down 0.5%

Shares of NYSE:PLNT opened at $91.47 on Wednesday. The firm’s 50 day moving average is $98.99 and its two-hundred day moving average is $102.71. The firm has a market capitalization of $7.70 billion, a P/E ratio of 40.65, a PEG ratio of 2.11 and a beta of 1.37. Planet Fitness, Inc. has a 52 week low of $77.79 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

About Planet Fitness

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.