Larson Financial Group LLC Buys 3,021 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Larson Financial Group LLC grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 151,050.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,023 shares of the company’s stock after buying an additional 3,021 shares during the period. Larson Financial Group LLC’s holdings in Planet Fitness were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC boosted its holdings in Planet Fitness by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after buying an additional 132 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. Creative Planning lifted its holdings in shares of Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Planet Fitness by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after purchasing an additional 200 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 0.5 %

NYSE:PLNT opened at $101.02 on Thursday. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81. The stock’s 50 day moving average price is $85.75 and its two-hundred day moving average price is $78.09.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.94% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLNT shares. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

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.