2,835 Shares in Planet Fitness, Inc. (NYSE:PLNT) Acquired by AQR Capital Management LLC

AQR Capital Management LLC purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,835 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLNT. Wellington Management Group LLP bought a new position in shares of Planet Fitness during the fourth quarter worth approximately $19,749,000. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock worth $589,606,000 after buying an additional 196,809 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Planet Fitness by 58.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,530 shares of the company’s stock valued at $185,000 after acquiring an additional 931 shares during the period. Park Avenue Securities LLC grew its stake in shares of Planet Fitness by 7.4% in the first quarter. Park Avenue Securities LLC now owns 8,474 shares of the company’s stock valued at $531,000 after acquiring an additional 583 shares in the last quarter. Finally, Diversified Trust Co increased its position in Planet Fitness by 1.5% during the first quarter. Diversified Trust Co now owns 20,564 shares of the company’s stock worth $1,288,000 after acquiring an additional 308 shares during the period. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Bank of America raised their price objective on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird reiterated an “outperform” rating and set a $92.00 target price on shares of Planet Fitness in a research report on Monday, August 26th. Piper Sandler raised their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $85.27.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.94% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $78.75 on Friday. The company has a 50 day simple moving average of $81.22 and a 200 day simple moving average of $72.57. Planet Fitness, Inc. has a 1 year low of $52.38 and a 1 year high of $85.08. The firm has a market cap of $6.94 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 2.69 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Planet Fitness Company 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.