Fmr LLC Buys 194,157 Shares of Planet Fitness, Inc. (NYSE:PLNT)

FMR LLC grew its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 24.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 989,642 shares of the company's stock after purchasing an additional 194,157 shares during the period. FMR LLC owned approximately 1.17% of Planet Fitness worth $97,846,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLNT. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $39,000. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness in the fourth quarter worth about $51,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new position in Planet Fitness during the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Down 0.6 %

PLNT stock traded down $0.57 during midday trading on Friday, reaching $93.91. The company had a trading volume of 1,037,277 shares, compared to its average volume of 1,436,545. The company has a 50 day moving average of $96.46 and a two-hundred day moving average of $96.02. The company has a market capitalization of $7.95 billion, a P/E ratio of 50.49, a PEG ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the company earned $0.60 earnings per share. Planet Fitness's quarterly revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on PLNT shares. Canaccord Genuity Group started coverage on Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. BMO Capital Markets boosted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Piper Sandler raised their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $101.72.

Planet Fitness 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.