Diversified Trust Co Has $1.62 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,005 shares of the company’s stock after buying an additional 1,441 shares during the quarter. Diversified Trust Co’s holdings in Planet Fitness were worth $1,619,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP grew its stake in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness during the 1st quarter worth approximately $27,000. Asset Management One Co. Ltd. grew its holdings in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded up $0.22 during midday trading on Wednesday, hitting $80.13. 51,344 shares of the stock traded hands, compared to its average volume of 1,681,986. The firm has a 50-day moving average of $73.85 and a two-hundred day moving average of $67.07. The firm has a market capitalization of $7.07 billion, a P/E ratio of 45.93, a PEG ratio of 2.57 and a beta of 1.49. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $80.40.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Equities analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.94% of the company’s stock.

Analyst Upgrades and Downgrades

PLNT has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Roth Mkm upped their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Raymond James increased their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.87.

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.