Everence Capital Management Inc. Takes $240,000 Position in Planet Fitness, Inc. (NYSE:PLNT)

Everence Capital Management Inc. purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,430 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC grew its stake in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after acquiring an additional 201 shares in the last quarter. Quarry LP grew its position in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC increased its stake in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after buying an additional 1,516 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Planet Fitness during the 3rd quarter worth approximately $200,000. Finally, KBC Group NV boosted its stake in shares of Planet Fitness by 14.7% in the 3rd quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after buying an additional 321 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PLNT shares. Royal Bank of Canada increased their price target on Planet Fitness from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. Macquarie restated a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average price target of $96.13.

Planet Fitness Stock Performance

Shares of PLNT opened at $100.87 on Thursday. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 54.23, a price-to-earnings-growth ratio of 3.33 and a beta of 1.52. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $102.90. The stock’s 50-day simple moving average is $97.30 and its 200 day simple moving average is $85.17.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.5 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.