Today: The Emerald Acquisition Ltd. Takes Position in Planet Fitness Inc. (PLNT)

The Emerald Acquisition Ltd. Takes Position in Planet Fitness Inc. (PLNT)

Emerald Acquisition Ltd. bought a new stake in shares of Planet Fitness Inc. (NYSE:PLNT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,967 shares of the company’s stock, valued at approximately $1,076,000. Emerald Acquisition Ltd. owned approximately 0.16% of Planet Fitness at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Societe Generale purchased a new position in Planet Fitness during the second quarter worth approximately $222,000. Commonwealth Equity Services Inc raised its position in Planet Fitness by 3.8% in the first quarter. Commonwealth Equity Services Inc now owns 15,575 shares of the company’s stock worth $253,000 after buying an additional 575 shares during the period. Barclays PLC raised its position in Planet Fitness by 110.2% in the first quarter. Barclays PLC now owns 28,800 shares of the company’s stock worth $461,000 after buying an additional 15,100 shares during the period. Swiss National Bank raised its position in Planet Fitness by 43.2% in the second quarter. Swiss National Bank now owns 43,085 shares of the company’s stock worth $813,000 after buying an additional 13,000 shares during the period. Finally, Monashee Investment Management LLC raised its position in Planet Fitness by 476.9% in the second quarter. Monashee Investment Management LLC now owns 74,994 shares of the company’s stock worth $1,416,000 after buying an additional 61,994 shares during the period. Institutional investors and hedge funds own 83.52% of the company’s stock.

Planet Fitness Inc. (NYSE:PLNT) traded down 0.60% during midday trading on Friday, hitting $19.83. 628,973 shares of the company were exchanged. The firm’s 50-day moving average price is $20.68 and its 200-day moving average price is $18.62. Planet Fitness Inc. has a one year low of $13.23 and a one year high of $23.41. The stock’s market capitalization is $882.22 million.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $78.95 million. Planet Fitness had a net margin of 1.74% and a return on equity of 2,244.54%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. Equities research analysts anticipate that Planet Fitness Inc. will post $0.47 earnings per share for the current year.

A number of equities analysts have commented on PLNT shares. Jefferies Group restated a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of Planet Fitness in a research report on Friday, August 12th. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, August 16th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Planet Fitness in a research note on Thursday, August 11th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Planet Fitness in a research note on Monday, June 27th. Finally, Imperial Capital boosted their target price on shares of Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.95.

In other Planet Fitness news, insider Richard L. Moore sold 8,200 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.00, for a total transaction of $172,200.00. Following the sale, the insider now directly owns 8,200 shares in the company, valued at $172,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $19.91, for a total transaction of $398,200.00. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise, Corporate-owned stores and Equipment. The Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.

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