Versor Investments LP Cuts Stock Holdings in Planet Fitness, Inc. $PLNT

Versor Investments LP decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 59.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,440 shares of the company’s stock after selling 9,553 shares during the period. Versor Investments LP’s holdings in Planet Fitness were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLNT. Wealth Enhancement Advisory Services LLC increased its position in Planet Fitness by 15.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company’s stock valued at $299,000 after purchasing an additional 418 shares during the period. New York State Teachers Retirement System increased its position in Planet Fitness by 70.6% during the 1st quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock valued at $3,246,000 after purchasing an additional 13,900 shares during the period. First Horizon Advisors Inc. increased its position in Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock valued at $36,000 after purchasing an additional 242 shares during the period. Teacher Retirement System of Texas increased its position in Planet Fitness by 5.8% during the 1st quarter. Teacher Retirement System of Texas now owns 35,213 shares of the company’s stock valued at $3,402,000 after purchasing an additional 1,931 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Planet Fitness by 30.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $289,000 after purchasing an additional 691 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PLNT. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Planet Fitness in a research report on Monday, September 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group initiated coverage on shares of Planet Fitness in a research report on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Planet Fitness Stock Up 1.4%

PLNT stock opened at $91.93 on Tuesday. The firm has a 50 day moving average of $99.27 and a 200 day moving average of $102.72. The stock has a market capitalization of $7.74 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.09 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 released its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. Planet Fitness’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. On average, equities research analysts expect 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.