Vanguard Group Inc. Raises Position in Planet Fitness, Inc. (NYSE:PLNT)

Vanguard Group Inc. lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,035,765 shares of the company's stock after purchasing an additional 39,928 shares during the period. Vanguard Group Inc. owned about 9.50% of Planet Fitness worth $794,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after acquiring an additional 691,761 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Planet Fitness in the 3rd quarter worth approximately $1,990,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Planet Fitness by 8.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company's stock valued at $1,255,000 after purchasing an additional 1,210 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Planet Fitness during the third quarter valued at $200,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Planet Fitness during the third quarter valued at $478,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PLNT. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. Guggenheim reiterated a "buy" rating and set a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. BMO Capital Markets lifted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Stock Down 0.8 %

Shares of PLNT stock traded down $0.81 during trading on Tuesday, hitting $95.80. The company had a trading volume of 1,488,875 shares, compared to its average volume of 1,585,373. The stock's 50-day moving average is $100.30 and its two-hundred day moving average is $94.93. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00.

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

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.