Deutsche Bank AG Increases Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Deutsche Bank AG boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 30.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,757 shares of the company’s stock after purchasing an additional 59,778 shares during the quarter. Deutsche Bank AG owned about 0.30% of Planet Fitness worth $24,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. Vanguard Group Inc. raised its stake in shares of Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after acquiring an additional 62,716 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after acquiring an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock worth $205,265,000 after acquiring an additional 806,023 shares in the last quarter. Anomaly Capital Management LP raised its stake in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock worth $175,256,000 after acquiring an additional 299,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Planet Fitness by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company’s stock worth $115,407,000 after acquiring an additional 33,230 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PLNT. Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, June 12th. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Morgan Stanley lifted their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average price target of $107.38.

Planet Fitness Stock Up 1.0%

NYSE:PLNT opened at $107.27 on Thursday. The stock has a market cap of $9.03 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 2.36 and a beta of 1.40. The firm’s fifty day simple moving average is $107.80 and its 200 day simple moving average is $101.94. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47.

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

Planet Fitness Company 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.