Verition Fund Management LLC Takes $206,000 Position in Planet Fitness Inc (NYSE:PLNT)
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.
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.
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