KLP Kapitalforvaltning AS Acquires New Holdings in Planet Fitness, Inc. (NYSE:PLNT)

KLP Kapitalforvaltning AS purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,100 shares of the company's stock, valued at approximately $1,790,000.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Planet Fitness by 36.4% during the fourth quarter. American Century Companies Inc. now owns 546,664 shares of the company's stock valued at $54,049,000 after buying an additional 145,799 shares in the last quarter. Virtu Financial LLC acquired a new stake in Planet Fitness in the 4th quarter valued at about $292,000. Quantbot Technologies LP bought a new position in shares of Planet Fitness during the 4th quarter valued at about $5,183,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Planet Fitness by 5.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 53,974 shares of the company's stock worth $5,336,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Planet Fitness by 4.8% during the fourth quarter. Whittier Trust Co. now owns 101,961 shares of the company's stock valued at $10,081,000 after purchasing an additional 4,692 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Down 0.8 %

PLNT stock traded down $0.81 during mid-day trading on Tuesday, hitting $95.80. The stock had a trading volume of 1,488,875 shares, compared to its average volume of 1,454,251. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The company has a fifty day moving average of $100.06 and a 200 day moving average of $95.02. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 2.45 and a beta of 1.54.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLNT. Roth Mkm restated a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Macquarie reduced their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $105.00 price objective on shares of Planet Fitness in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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.