W.E. Donoghue & Co. LLC Invests $2.30 Million in Planet Fitness Inc (NYSE:PLNT)

W.E. Donoghue & Co. LLC purchased a new position in shares of Planet Fitness Inc (NYSE:PLNT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,803 shares of the company’s stock, valued at approximately $2,304,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLNT. PNC Financial Services Group Inc. increased its holdings in shares of Planet Fitness by 4,557.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock worth $45,000 after buying an additional 638 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Planet Fitness by 228.3% during the 1st quarter. Synovus Financial Corp now owns 719 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Planet Fitness during the 1st quarter worth approximately $73,000. Meeder Asset Management Inc. boosted its position in shares of Planet Fitness by 88.8% during the 1st quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock worth $74,000 after purchasing an additional 506 shares during the period. Finally, Manchester Capital Management LLC purchased a new position in shares of Planet Fitness during the 1st quarter worth approximately $133,000. Institutional investors and hedge funds own 93.28% of the company’s stock.

PLNT stock traded down $1.43 during midday trading on Friday, hitting $76.60. The company’s stock had a trading volume of 956,512 shares, compared to its average volume of 1,011,939. Planet Fitness Inc has a 52-week low of $44.97 and a 52-week high of $81.90. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 62.79, a P/E/G ratio of 2.35 and a beta of 0.59. The firm has a 50-day moving average of $76.62.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The company had revenue of $148.82 million during the quarter, compared to analysts’ expectations of $153.41 million. During the same quarter last year, the company posted $0.27 EPS. The firm’s revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness Inc will post 1.55 earnings per share for the current year.

A number of research firms recently weighed in on PLNT. ValuEngine cut shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 17th. Macquarie raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $64.00 to $85.00 in a research report on Tuesday, May 7th. Jefferies Financial Group increased their price objective on shares of Planet Fitness from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $86.00 price objective (up previously from $72.00) on shares of Planet Fitness in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Planet Fitness presently has a consensus rating of “Buy” and an average target price of $69.50.

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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