Vanguard Group Inc. Acquires 196,809 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Vanguard Group Inc. lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,076,794 shares of the company’s stock after acquiring an additional 196,809 shares during the period. Vanguard Group Inc. owned approximately 9.16% of Planet Fitness worth $589,606,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLNT. UBS Group AG lifted its holdings in shares of Planet Fitness by 1,356.5% during the 3rd quarter. UBS Group AG now owns 107,492 shares of the company’s stock worth $5,286,000 after acquiring an additional 100,112 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Planet Fitness during the 3rd quarter valued at about $490,000. Brandywine Global Investment Management LLC bought a new position in Planet Fitness during the 3rd quarter valued at about $1,385,000. Dark Forest Capital Management LP lifted its holdings in Planet Fitness by 107.5% during the 3rd quarter. Dark Forest Capital Management LP now owns 13,834 shares of the company’s stock valued at $680,000 after purchasing an additional 7,167 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Planet Fitness by 7.9% during the 3rd quarter. Mariner LLC now owns 34,633 shares of the company’s stock valued at $1,703,000 after purchasing an additional 2,537 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $73.01 on Tuesday. The company has a 50 day moving average of $64.65 and a 200-day moving average of $66.37. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $75.86. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 2.45 and a beta of 1.43.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a report on Friday, June 14th. DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Raymond James raised their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $92.00 in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.64.

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.