T. Rowe Price Investment Management Inc. Raises Holdings in Planet Fitness, Inc. (NYSE:PLNT)

T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,911,081 shares of the company's stock after purchasing an additional 2,570,826 shares during the quarter. T. Rowe Price Investment Management Inc. owned 9.35% of Planet Fitness worth $782,169,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Tidal Investments LLC grew its stake in shares of Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after buying an additional 16,503 shares in the last quarter. GAMMA Investing LLC grew its position in Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after acquiring an additional 192 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Planet Fitness in the fourth quarter worth about $240,000. Nordea Investment Management AB increased its stake in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock worth $18,205,000 after acquiring an additional 8,600 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in Planet Fitness by 71.9% during the fourth quarter. Fulton Bank N.A. now owns 4,429 shares of the company's stock valued at $438,000 after purchasing an additional 1,853 shares during the period. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group initiated coverage on Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 target price on the stock. Guggenheim increased their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Roth Mkm reiterated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Piper Sandler raised their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Five equities 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $101.72.

Planet Fitness Price Performance

Planet Fitness stock traded down $0.56 during mid-day trading on Friday, reaching $95.77. 1,077,698 shares of the company traded hands, compared to its average volume of 1,419,394. Planet Fitness, Inc. has a fifty-two week low of $58.51 and a fifty-two week high of $110.00. The firm's fifty day moving average is $95.85 and its two-hundred day moving average is $96.48. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. 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 earnings per share. Planet Fitness's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.