Principal Financial Group Inc. Has $16.07 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Principal Financial Group Inc. trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,813 shares of the company's stock after selling 101,293 shares during the period. Principal Financial Group Inc. owned about 0.22% of Planet Fitness worth $16,066,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PLNT. Vanguard Group Inc. boosted its holdings in Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company's stock worth $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Dorsal Capital Management LP grew its holdings in shares of Planet Fitness by 7.7% in the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock valued at $213,940,000 after acquiring an additional 207,193 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at about $166,978,000. Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company's stock worth $116,453,000 after acquiring an additional 483,586 shares in the last quarter. Finally, Anomaly Capital Management LP acquired a new position in Planet Fitness during the second quarter valued at approximately $106,795,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Down 1.0 %

Shares of Planet Fitness stock traded down $0.94 during trading on Friday, reaching $95.27. The company's stock had a trading volume of 779,463 shares, compared to its average volume of 1,544,245. The business's 50-day moving average price is $83.25 and its 200-day moving average price is $76.00. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $98.59. The firm has a market cap of $8.11 billion, a PE ratio of 51.22, a P/E/G ratio of 3.22 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLNT shares. Stifel Nicolaus upped their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a research report on Friday, September 27th. They set a "hold" rating and a $71.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Macquarie reaffirmed a "neutral" rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Finally, Raymond James lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.81.

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.