Marshall Wace LLP purchased a new stake in Planet Fitness Inc (NYSE:PLNT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,022,365 shares of the company’s stock, valued at approximately $55,238,000. Marshall Wace LLP owned about 1.05% of Planet Fitness at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. American International Group Inc. increased its stake in Planet Fitness by 1.8% during the 3rd quarter. American International Group Inc. now owns 58,694 shares of the company’s stock worth $3,171,000 after purchasing an additional 1,059 shares in the last quarter. Strs Ohio increased its stake in Planet Fitness by 11.6% during the 3rd quarter. Strs Ohio now owns 12,500 shares of the company’s stock worth $675,000 after purchasing an additional 1,300 shares in the last quarter. NumerixS Investment Technologies Inc increased its stake in Planet Fitness by 47.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock worth $230,000 after purchasing an additional 1,706 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Planet Fitness by 15.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,800 shares of the company’s stock worth $692,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Planet Fitness by 7.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 28,462 shares of the company’s stock worth $1,251,000 after purchasing an additional 1,854 shares in the last quarter. 90.80% of the stock is owned by institutional investors.

In other Planet Fitness news, CEO Christopher Rondeau sold 80,000 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $50.21, for a total transaction of $4,016,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Dorvin D. Lively sold 31,893 shares of the firm’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $50.82, for a total value of $1,620,802.26. Following the sale, the chief financial officer now directly owns 31,893 shares of the company’s stock, valued at approximately $1,620,802.26. The disclosure for this sale can be found here. In the last three months, insiders sold 191,893 shares of company stock valued at $9,702,402. 19.87% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the company. Imperial Capital upped their price target on Planet Fitness from $40.00 to $45.00 and gave the stock an “inline” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. JPMorgan Chase & Co. downgraded Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Monday, August 13th. Robert W. Baird reissued a “buy” rating and issued a $56.00 price objective (up previously from $50.00) on shares of Planet Fitness in a report on Friday, August 10th. Finally, Bank of America increased their price objective on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, November 7th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Planet Fitness has a consensus rating of “Buy” and an average price target of $53.07.

Shares of NYSE PLNT traded up $0.60 during trading hours on Thursday, hitting $56.23. The company had a trading volume of 1,155,072 shares, compared to its average volume of 1,114,112. The company has a market cap of $5.43 billion, a PE ratio of 66.94, a PEG ratio of 2.36 and a beta of 0.77. Planet Fitness Inc has a 1-year low of $28.98 and a 1-year high of $58.50.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $136.66 million during the quarter, compared to the consensus estimate of $126.10 million. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, equities analysts predict that Planet Fitness Inc will post 1.2 EPS for the current fiscal year.

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Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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