New Age Alpha Advisors LLC Acquires New Position in Planet Fitness, Inc. (NYSE:PLNT)

New Age Alpha Advisors LLC acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 674 shares of the company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after buying an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock valued at $205,265,000 after purchasing an additional 806,023 shares in the last quarter. Anomaly Capital Management LP raised its holdings in shares of Planet Fitness by 20.3% in the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock valued at $175,256,000 after purchasing an additional 299,148 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Planet Fitness by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company’s stock valued at $115,407,000 after purchasing an additional 33,230 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Planet Fitness by 24.4% in the 4th quarter. FMR LLC now owns 989,642 shares of the company’s stock valued at $97,846,000 after purchasing an additional 194,157 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a report on Thursday. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a report on Thursday, May 22nd. Macquarie reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.38.

Planet Fitness Trading Down 0.6%

NYSE:PLNT opened at $105.94 on Tuesday. The company has a market cap of $8.92 billion, a PE ratio of 47.08, a P/E/G ratio of 2.37 and a beta of 1.40. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47. The company’s 50 day moving average is $107.74 and its two-hundred day moving average is $101.87.

Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. Planet Fitness’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, analysts expect that Planet Fitness, Inc. will post 2.51 EPS 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.