Premier Fund Managers Ltd Boosts Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Premier Fund Managers Ltd increased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 54.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,893 shares of the company's stock after acquiring an additional 5,270 shares during the period. Premier Fund Managers Ltd's holdings in Planet Fitness were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ninety One UK Ltd acquired a new stake in Planet Fitness during the fourth quarter valued at $130,376,000. Norges Bank purchased a new position in shares of Planet Fitness during the 4th quarter valued at approximately $100,009,000. FMR LLC grew its stake in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after acquiring an additional 691,761 shares during the period. WCM Investment Management LLC purchased a new stake in Planet Fitness in the 4th quarter worth $22,289,000. Finally, Artemis Investment Management LLP acquired a new position in Planet Fitness during the fourth quarter worth $18,767,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Performance

PLNT stock traded down $0.74 during midday trading on Tuesday, hitting $95.87. 440,749 shares of the stock were exchanged, compared to its average volume of 1,568,768. The stock's 50-day moving average price is $100.30 and its 200-day moving average price is $94.93. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Guggenheim reissued a "buy" rating and set a $105.00 target price on shares of Planet Fitness in a report on Thursday, February 27th. Roth Mkm reiterated a "buy" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, DA Davidson reissued a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Five 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 company's stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and an average target price of $101.44.

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.