Bfsg LLC Invests $389,000 in Planet Fitness Inc (PLNT)

Bfsg LLC purchased a new stake in shares of Planet Fitness Inc (NYSE:PLNT) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 7,205 shares of the company’s stock, valued at approximately $389,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in shares of Planet Fitness during the 3rd quarter valued at $2,991,000. Groesbeck Investment Management Corp NJ purchased a new position in Planet Fitness in the third quarter worth $305,000. RWC Asset Management LLP grew its position in Planet Fitness by 11.0% in the third quarter. RWC Asset Management LLP now owns 111,000 shares of the company’s stock worth $5,997,000 after acquiring an additional 11,000 shares in the last quarter. KAMES CAPITAL plc grew its position in Planet Fitness by 7.1% in the third quarter. KAMES CAPITAL plc now owns 49,117 shares of the company’s stock worth $2,653,000 after acquiring an additional 3,267 shares in the last quarter. Finally, Kovack Advisors Inc. purchased a new position in Planet Fitness in the third quarter worth $230,000. Hedge funds and other institutional investors own 92.40% of the company’s stock.

Several research firms have weighed in on PLNT. Wedbush boosted their price target on shares of Planet Fitness from $35.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. TheStreet raised shares of Planet Fitness from a “c-” rating to a “b” rating in a research note on Monday, August 6th. DA Davidson boosted their price target on shares of Planet Fitness to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Guggenheim boosted their price target on shares of Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Finally, Berenberg Bank began coverage on shares of Planet Fitness in a research note on Wednesday, June 20th. They issued a “buy” rating and a $53.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Planet Fitness presently has a consensus rating of “Buy” and an average target price of $50.31.

Shares of NYSE:PLNT traded down $1.51 during midday trading on Thursday, hitting $47.94. 71,135 shares of the stock traded hands, compared to its average volume of 1,096,246. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 58.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.54. The company has a current ratio of 2.08, a quick ratio of 2.05 and a debt-to-equity ratio of -7.61. Planet Fitness Inc has a one year low of $25.55 and a one year high of $55.35.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Planet Fitness had a net margin of 11.68% and a negative return on equity of 82.89%. The company had revenue of $140.55 million during the quarter, compared to the consensus estimate of $130.99 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Planet Fitness’s revenue was up 31.0% on a year-over-year basis. As a group, research analysts forecast that Planet Fitness Inc will post 1.13 EPS for the current fiscal year.

In related news, CEO Christopher Rondeau sold 80,000 shares of the stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $50.81, for a total value of $4,064,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dorvin D. Lively sold 31,893 shares of the stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $50.82, for a total transaction of $1,620,802.26. Following the completion of the transaction, the chief financial officer now directly owns 31,893 shares of the company’s stock, valued at $1,620,802.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 638,272 shares of company stock valued at $32,174,956. 16.38% of the stock is owned by insiders.

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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