259,699 Shares in Planet Fitness, Inc. (NYSE:PLNT) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 259,699 shares of the company's stock, valued at approximately $25,676,000. Freestone Grove Partners LP owned approximately 0.31% of Planet Fitness at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 worth $782,169,000 after buying an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd acquired a new position in Planet Fitness during the fourth quarter worth about $130,376,000. Norges Bank bought a new position in shares of Planet Fitness in the fourth quarter worth about $100,009,000. Invesco Ltd. lifted its holdings in shares of Planet Fitness by 199.7% in the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after acquiring an additional 321,644 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its stake 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. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

PLNT stock opened at $94.85 on Friday. The company's 50-day moving average is $95.55 and its 200-day moving average is $96.87. The stock has a market capitalization of $8.03 billion, a PE ratio of 50.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 1 year low of $58.84 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLNT has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Guggenheim boosted their price objective on Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Macquarie dropped their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, DA Davidson restated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.72.

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.

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.