Fmr LLC Purchases 691,761 Shares of Planet Fitness, Inc. (NYSE:PLNT)

FMR LLC grew its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 666.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 795,485 shares of the company's stock after acquiring an additional 691,761 shares during the period. FMR LLC owned 0.93% of Planet Fitness worth $64,609,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $28,000 after acquiring an additional 316 shares during the period. LRI Investments LLC raised its position in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after acquiring an additional 153 shares during the period. Quarry LP raised its position in Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 318 shares during the period. V Square Quantitative Management LLC raised its position in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after acquiring an additional 201 shares during the period. Finally, Dnca Finance bought a new position in Planet Fitness in the second quarter worth approximately $82,000. 95.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Macquarie reissued a "neutral" rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, Raymond James increased their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.38.

Planet Fitness Stock Performance

PLNT stock traded down $0.50 during trading on Friday, hitting $99.87. 570,175 shares of the company's stock traded hands, compared to its average volume of 1,184,578. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.81. The business has a fifty day simple moving average of $88.51 and a 200 day simple moving average of $79.84. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.69, a P/E/G ratio of 3.30 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter last year, the business earned $0.59 earnings per share. Planet Fitness's quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is owned by company insiders.

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.