Planet Fitness, Inc. (NYSE:PLNT) Shares Purchased by Cadian Capital Management LP

Cadian Capital Management LP boosted its holdings in shares of Planet Fitness, Inc. (NYSE: PLNT – Free Report ) by 113.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,527,500 shares of the company’s stock after buying an additional 812,000 shares during the period. Planet Fitness accounts for approximately 4.9% of Cadian Capital Management LP’s holdings, making the stock its 10th largest holding. Cadian Capital Management LP owned approximately 1.71% of Planet Fitness worth $103,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. B. Riley Asset Management LLC acquired a new stake in Planet Fitness during the second quarter valued at $1,457,000. Keebeck Wealth Management LLC boosted its position in Planet Fitness by 121.2% in the second quarter. Keebeck Wealth Management LLC now owns 7,703 shares of the company’s stock valued at $519,000 after purchasing an additional 4,220 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Planet Fitness by 4.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,665 shares of the company’s stock valued at $449,000 after purchasing an additional 312 shares during the last quarter. Marshall Wace LLP bought a new position in Planet Fitness during the second quarter valued at $5,812,000. Finally, State Street Corp lifted its position in Planet Fitness by 78.4% in the second quarter. State Street Corp now owns 2,295,657 shares of the company’s stock valued at $154,819,000 after purchasing an additional 1,008,875 shares in the last quarter. 95.53% of the shares are owned by institutional investors and hedge funds.

Insider buying and selling

In other Planet Fitness news, Director Christopher Rondeau sold 1,000,000 shares of Planet Fitness stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $66.55, for a total value of $66,550,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.94% of shares are currently owned by company insiders.

Changes in analyst ratings

A number of analysts have commented on the company. Morgan Stanley boosted their price objective on Planet Fitness from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. TD Cowen downgraded Planet Fitness from an “outperform” rating to a “market perform” rating and cut their target price for the company from $72.00 to $55.00 in a research report on Friday, September 15th. Jefferies Financial Group downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $56.00 in a research report on Monday, September 18th. Raymond James boosted their price objective on Planet Fitness from $66.00 to $73.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus cut their target price on Planet Fitness from $75.00 to $65.00 in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.88.

Read our latest Planet Fitness stock analysis

Shares of Planet Fitness fell 0.6%

Shares of Planet Fitness traded down $0.40 during mid-day trading on Friday, reaching $67.65. 891,700 shares of the company’s stock were exchanged, with an average volume of 1,077,552. The firm has a market cap of $5.96 billion, a P/E ratio of 42.02, a PEG ratio of 1.53 and a beta of 1.36. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $85.90. The company’s 50-day simple moving average is $58.77, and its 200-day simple moving average is $61.27.

Planet Fitness (NYSE: PLNT – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $277.60 million for the quarter, compared to the consensus estimate of $268.18 million. Planet Fitness had a negative return on equity of 102.85% and a net margin of 12.80%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business reported $0.42 EPS. Analysts expect Planet Fitness, Inc. to post 2.21 EPS for the current year.

Planet Fitness Company Profile

(Free report)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates in three segments: Franchising, Corporate Stores and Equipment. The Franchise segment engages in franchise businesses in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.

See also

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

This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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