State Street Corp Boosts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

State Street Corp grew its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,524,764 shares of the company's stock after buying an additional 37,236 shares during the period. State Street Corp owned 2.96% of Planet Fitness worth $205,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLNT. William Blair Investment Management LLC acquired a new position in Planet Fitness in the second quarter valued at about $166,978,000. Anomaly Capital Management LP acquired a new position in shares of Planet Fitness in the 2nd quarter worth approximately $106,795,000. Point72 Asset Management L.P. boosted its position in shares of Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after purchasing an additional 829,509 shares during the period. FMR LLC increased its holdings 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 purchasing an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP increased its holdings in 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 purchasing an additional 207,193 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLNT shares. DA Davidson increased their target price on Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Robert W. Baird raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Macquarie restated a "neutral" rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Morgan Stanley increased their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Finally, Raymond James boosted their price target 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.38.

Planet Fitness Stock Down 1.1 %

PLNT traded down $1.06 on Friday, reaching $99.20. The company's stock had a trading volume of 190,136 shares, compared to its average volume of 1,489,416. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 53.90, a P/E/G ratio of 3.39 and a beta of 1.53. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.88. The stock has a 50 day moving average of $89.96 and a two-hundred day moving average of $80.84.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share 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.