Hilton Capital Management LLC Invests $1.69 Million in Planet Fitness, Inc. (NYSE:PLNT)

Hilton Capital Management LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 20,783 shares of the company’s stock, valued at approximately $1,688,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares during the period. Bessemer Group Inc. lifted its position in shares of Planet Fitness by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after purchasing an additional 45,623 shares during the period. Fifth Third Bancorp lifted its position in Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after acquiring an additional 72,131 shares during the period. Point72 Asset Management L.P. lifted its position in Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after acquiring an additional 829,509 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Planet Fitness during the 3rd quarter valued at about $13,592,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $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 is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Planet Fitness Trading Up 0.9 %

Shares of NYSE PLNT opened at $97.87 on Wednesday. The firm has a 50 day moving average of $83.92 and a 200 day moving average of $76.77. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 52.62, a price-to-earnings-growth ratio of 3.17 and a beta of 1.49. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $98.59.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. Sell-side analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLNT shares. Royal Bank of Canada lifted their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Bank of America raised their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.81.

About Planet Fitness

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.