Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,035,765 shares of the company’s stock after buying an additional 39,928 shares during the period. Vanguard Group Inc. owned 9.50% of Planet Fitness worth $794,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PLNT. LPL Financial LLC boosted its holdings in Planet Fitness by 12.1% in the fourth quarter. LPL Financial LLC now owns 44,662 shares of the company’s stock valued at $4,546,000 after purchasing an additional 4,829 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Planet Fitness in the 4th quarter valued at $215,000. KLP Kapitalforvaltning AS purchased a new position in shares of Planet Fitness in the 4th quarter valued at $1,790,000. American Century Companies Inc. raised its stake in Planet Fitness by 36.4% during the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company’s stock worth $54,049,000 after acquiring an additional 145,799 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Planet Fitness during the 4th quarter worth $292,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLNT has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Canaccord Genuity Group began coverage on Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Macquarie cut their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research note on Thursday, February 27th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Stock Performance

NYSE:PLNT opened at $96.18 on Friday. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The stock has a fifty day moving average price of $100.46 and a two-hundred day moving average price of $94.73.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 2.51 EPS 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.