Vanguard Group Inc. grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,174,617 shares of the company’s stock after buying an additional 97,823 shares during the period. Vanguard Group Inc. owned about 9.27% of Planet Fitness worth $511,976,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cadian Capital Management LP grew its stake in Planet Fitness by 9.6% during the 4th quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock worth $323,417,000 after buying an additional 386,861 shares during the last quarter. Bank of New York Mellon Corp increased its position in Planet Fitness by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock worth $162,345,000 after buying an additional 66,139 shares during the period. Dorsal Capital Management LP acquired a new stake in Planet Fitness in the fourth quarter worth $182,500,000. Point72 Asset Management L.P. increased its position in Planet Fitness by 39.1% in the fourth quarter. Point72 Asset Management L.P. now owns 1,837,231 shares of the company’s stock worth $134,118,000 after buying an additional 516,790 shares during the period. Finally, Greenvale Capital LLP increased its position in Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after buying an additional 1,296,140 shares during the period. Institutional investors own 95.53% of the company’s stock.
Analysts Set New Price Targets
PLNT has been the topic of several analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and raised their price target for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Robert W. Baird raised their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $70.00 in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $77.64.
Check Out Our Latest Research Report on PLNT
Planet Fitness Stock Up 0.4 %
NYSE:PLNT opened at $74.99 on Friday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $79.09. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.49. The stock has a fifty day simple moving average of $70.90 and a 200 day simple moving average of $66.93.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same quarter last year, the company posted $0.41 EPS. Planet Fitness’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.
Planet Fitness Company Profile
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.
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