LRI Investments LLC Has $30,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

LRI Investments LLC lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 61.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 403 shares of the company’s stock after purchasing an additional 153 shares during the period. LRI Investments LLC’s holdings in Planet Fitness were worth $30,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Dorsal Capital Management LP bought a new position in Planet Fitness during the 4th quarter worth approximately $182,500,000. Greenvale Capital LLP lifted its holdings in Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock valued at $127,103,000 after buying an additional 1,296,140 shares during the period. Norges Bank bought a new stake in Planet Fitness during the fourth quarter valued at $65,674,000. Steadfast Capital Management LP boosted its position in Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock valued at $86,546,000 after acquiring an additional 682,863 shares during the last quarter. Finally, Junto Capital Management LP grew its holdings in Planet Fitness by 255.4% during the 4th quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock worth $55,256,000 after acquiring an additional 543,942 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PLNT shares. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Royal Bank of Canada boosted their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Finally, Piper Sandler upped their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Four investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.87.

Insiders Place Their Bets

In related news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.94% of the company’s stock.

Planet Fitness Stock Performance

PLNT stock opened at $81.07 on Friday. The business has a 50-day simple moving average of $75.45 and a two-hundred day simple moving average of $67.69. The company has a market capitalization of $6.90 billion, a P/E ratio of 46.59, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $81.64.

Planet Fitness (NYSE:PLNT) last announced its 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. The company had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. Planet Fitness’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.43 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.