Verition Fund Management LLC acquired a new stake in shares of Planet Fitness Inc (NYSE:PLNT) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,409 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in Planet Fitness by 0.7% during the first quarter. Alliancebernstein L.P. now owns 2,766,303 shares of the company’s stock worth $134,719,000 after acquiring an additional 19,179 shares in the last quarter. JPMorgan Chase & Co. increased its position in Planet Fitness by 68.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,284,926 shares of the company’s stock worth $111,275,000 after purchasing an additional 930,713 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Planet Fitness by 1.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,880,517 shares of the company’s stock worth $113,903,000 after acquiring an additional 18,679 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Planet Fitness by 42.7% during the 1st quarter. Eagle Asset Management Inc. now owns 1,758,846 shares of the company’s stock valued at $85,655,000 after acquiring an additional 526,702 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Planet Fitness by 14.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,392,025 shares of the company’s stock valued at $84,314,000 after buying an additional 178,390 shares during the period.

PLNT opened at $61.00 on Wednesday. Planet Fitness Inc has a twelve month low of $23.77 and a twelve month high of $88.77. The company has a fifty day moving average of $56.78 and a 200-day moving average of $57.78. The stock has a market cap of $5.28 billion, a PE ratio of 145.24, a price-to-earnings-growth ratio of 15.33 and a beta of 1.16.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.15). Planet Fitness had a negative return on equity of 9.31% and a net margin of 6.63%. The firm had revenue of $40.23 million for the quarter, compared to analyst estimates of $39.67 million. During the same quarter last year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 77.9% compared to the same quarter last year. On average, equities research analysts anticipate that Planet Fitness Inc will post 0.26 EPS for the current fiscal year.

Several research analysts have commented on PLNT shares. Robert W. Baird upped their target price on shares of Planet Fitness from $65.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. ValuEngine upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. Roth Capital dropped their price objective on shares of Planet Fitness from $70.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. BMO Capital Markets reduced their price target on Planet Fitness from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Finally, TheStreet lowered Planet Fitness from a “b-” rating to a “d+” rating in a report on Monday, June 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $72.29.

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.

Featured Story: Elliott Wave Theory

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc (NYSE:PLNT).

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.