Waratah Capital Advisors Ltd. boosted its stake in Planet Fitness Inc (NYSE:PLNT) by 11.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 692,628 shares of the company’s stock after buying an additional 71,491 shares during the quarter. Planet Fitness comprises 5.0% of Waratah Capital Advisors Ltd.’s holdings, making the stock its largest holding. Waratah Capital Advisors Ltd.’s holdings in Planet Fitness were worth $47,597,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Planet Fitness by 8.3% during the third quarter. Legal & General Group Plc now owns 31,861 shares of the company’s stock worth $1,722,000 after buying an additional 2,454 shares during the period. Morgan Stanley boosted its position in shares of Planet Fitness by 75.6% during the third quarter. Morgan Stanley now owns 563,195 shares of the company’s stock worth $30,429,000 after buying an additional 242,532 shares during the period. Federated Investors Inc. PA boosted its position in shares of Planet Fitness by 12.6% during the third quarter. Federated Investors Inc. PA now owns 378,938 shares of the company’s stock worth $20,474,000 after buying an additional 42,488 shares during the period. Vanguard Group Inc boosted its position in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock worth $464,518,000 after buying an additional 280,726 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Planet Fitness during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 96.21% of the company’s stock.

In other news, CEO Christopher Rondeau sold 6,000 shares of Planet Fitness stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $60.53, for a total value of $363,180.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David P. Berg sold 6,291 shares of Planet Fitness stock in a transaction on Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now owns 6,615 shares in the company, valued at approximately $408,343.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 466,291 shares of company stock worth $29,813,238. Corporate insiders own 14.52% of the company’s stock.

Shares of PLNT traded up $0.55 during midday trading on Wednesday, hitting $79.00. The company’s stock had a trading volume of 340,224 shares, compared to its average volume of 1,538,836. Planet Fitness Inc has a one year low of $38.32 and a one year high of $78.99. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 64.75, a PEG ratio of 2.26 and a beta of 0.76.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The company had revenue of $148.82 million for the quarter, compared to analyst estimates of $153.41 million. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness Inc will post 1.55 earnings per share for the current fiscal year.

Several research firms have recently weighed in on PLNT. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Macquarie raised Planet Fitness from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $85.00 in a research report on Tuesday, May 7th. Jefferies Financial Group raised their price objective on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine upgraded Planet Fitness from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 1st. Finally, Bank of America reiterated a “buy” rating and set a $86.00 target price (up previously from $72.00) on shares of Planet Fitness in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $67.57.

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Planet Fitness Company Profile

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.

Further Reading: What is an SEC Filing?

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

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