Caxton Associates LP acquired a new position in Planet Fitness Inc (NYSE:PLNT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,016 shares of the company’s stock, valued at approximately $624,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. AMP Capital Investors Ltd grew its stake in Planet Fitness by 46.2% during the fourth quarter. AMP Capital Investors Ltd now owns 55,736 shares of the company’s stock valued at $1,931,000 after acquiring an additional 17,606 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Planet Fitness during the fourth quarter valued at $4,298,000. Geode Capital Management LLC lifted its position in Planet Fitness by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 703,069 shares of the company’s stock valued at $24,347,000 after purchasing an additional 4,285 shares during the last quarter. Investec Asset Management LTD lifted its position in Planet Fitness by 13.2% during the fourth quarter. Investec Asset Management LTD now owns 4,838,749 shares of the company’s stock valued at $167,566,000 after purchasing an additional 564,783 shares during the last quarter. Finally, Stormborn Capital Management LLC bought a new position in Planet Fitness during the fourth quarter valued at $1,731,000. 97.98% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Inc (PLNT) traded up $0.51 during mid-day trading on Tuesday, reaching $38.75. 35,807 shares of the company traded hands, compared to its average volume of 1,213,782. The company has a quick ratio of 1.56, a current ratio of 1.58 and a debt-to-equity ratio of -5.09. The stock has a market cap of $3,776.89, a P/E ratio of 45.70, a PEG ratio of 1.68 and a beta of 0.56. Planet Fitness Inc has a 52 week low of $18.32 and a 52 week high of $40.04.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $131.11 million. Planet Fitness had a net margin of 7.71% and a negative return on equity of 52.97%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. analysts predict that Planet Fitness Inc will post 1.18 earnings per share for the current fiscal year.
Planet Fitness declared that its Board of Directors has initiated a share repurchase program on Thursday, February 22nd that permits the company to repurchase $80.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Planet Fitness news, CEO Christopher Rondeau sold 120,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $34.47, for a total transaction of $4,136,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 340,000 shares of company stock worth $11,418,000 in the last three months. Insiders own 19.87% of the company’s stock.
Several equities analysts have commented on the stock. Piper Jaffray Companies reiterated a “buy” rating on shares of Planet Fitness in a research report on Tuesday, February 27th. Roth Capital set a $36.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Tuesday, February 20th. Jefferies Group reiterated a “hold” rating and set a $35.00 price objective on shares of Planet Fitness in a research report on Friday, February 23rd. Guggenheim restated a “buy” rating on shares of Planet Fitness in a report on Friday, February 23rd. Finally, DA Davidson started coverage on shares of Planet Fitness in a report on Monday, November 20th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Planet Fitness presently has a consensus rating of “Buy” and a consensus target price of $36.38.
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About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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