QRG Capital Management Inc. Has $211,000 Holdings in Planet Fitness, Inc. $PLNT

QRG Capital Management Inc. cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 9.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,938 shares of the company’s stock after selling 199 shares during the quarter. QRG Capital Management Inc.’s holdings in Planet Fitness were worth $211,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLNT. Wealth Enhancement Advisory Services LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $265,000. Park Avenue Securities LLC raised its position in Planet Fitness by 14.2% in the first quarter. Park Avenue Securities LLC now owns 5,304 shares of the company’s stock valued at $512,000 after purchasing an additional 658 shares during the last quarter. Farther Finance Advisors LLC raised its position in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. GAMMA Investing LLC raised its position in Planet Fitness by 7.4% in the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock valued at $217,000 after purchasing an additional 155 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Planet Fitness by 381.8% in the first quarter. Assenagon Asset Management S.A. now owns 66,545 shares of the company’s stock valued at $6,429,000 after purchasing an additional 52,733 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of PLNT opened at $93.65 on Monday. Planet Fitness, Inc. has a 1 year low of $77.77 and a 1 year high of $114.47. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38. The business has a 50-day moving average of $103.40 and a 200-day moving average of $102.77.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The company had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. During the same period last year, the company earned $0.71 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on PLNT shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $126.00 target price on shares of Planet Fitness in a research report on Monday, September 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $111.54.

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.