SG Americas Securities LLC Has $11.99 Million Stock Position in Planet Fitness Inc (NYSE:PLNT)

SG Americas Securities LLC raised its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 104.8% during the second quarter, Holdings Channel reports. The firm owned 165,477 shares of the company’s stock after buying an additional 84,673 shares during the period. SG Americas Securities LLC’s holdings in Planet Fitness were worth $11,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLNT. PNC Financial Services Group Inc. raised its stake in shares of Planet Fitness by 4,557.1% in the first quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock valued at $45,000 after acquiring an additional 638 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Planet Fitness by 228.3% in the first quarter. Synovus Financial Corp now owns 719 shares of the company’s stock valued at $49,000 after acquiring an additional 500 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Planet Fitness in the first quarter valued at approximately $73,000. Meeder Asset Management Inc. raised its stake in shares of Planet Fitness by 88.8% in the first quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock valued at $74,000 after acquiring an additional 506 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Planet Fitness in the second quarter valued at approximately $80,000. 93.54% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on PLNT. Roth Capital boosted their price objective on shares of Planet Fitness from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group boosted 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. Bank of America restated a “buy” rating and issued a $86.00 price objective (up previously from $72.00) on shares of Planet Fitness in a research report on Wednesday, May 1st. Macquarie upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $64.00 to $85.00 in a research report on Tuesday, May 7th. Finally, ValuEngine cut shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $72.25.

Shares of Planet Fitness stock traded down $2.10 on Friday, hitting $73.25. 40,297 shares of the company’s stock traded hands, compared to its average volume of 1,067,740. The firm has a 50-day moving average price of $76.03. The company has a market cap of $6.82 billion, a PE ratio of 59.66, a PEG ratio of 2.32 and a beta of 0.59. Planet Fitness Inc has a one year low of $44.97 and a one year high of $81.90.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $181.66 million during the quarter, compared to analysts’ expectations of $167.91 million. Planet Fitness had a net margin of 16.29% and a negative return on equity of 47.77%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, analysts expect that Planet Fitness Inc will post 1.56 earnings per share for the current year.

About Planet Fitness

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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