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

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

Other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake 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 acquiring an additional 2,570,826 shares during the period. Ninety One UK Ltd bought a new stake in shares of Planet Fitness during the 4th quarter valued at about $130,376,000. Norges Bank purchased a new stake in shares of Planet Fitness during the 4th quarter valued at about $100,009,000. Invesco Ltd. lifted its stake in shares of Planet Fitness by 199.7% in the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after purchasing an additional 321,644 shares during the period. Finally, Anomaly Capital Management LP grew its position in Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after buying an additional 299,148 shares during the period. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PLNT. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Stifel Nicolaus reduced their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. DA Davidson restated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Canaccord Genuity Group began coverage on Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Five research 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, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Stock Performance

PLNT traded up $2.52 during trading on Wednesday, hitting $102.39. The stock had a trading volume of 898,185 shares, compared to its average volume of 1,405,990. Planet Fitness, Inc. has a twelve month low of $59.16 and a twelve month high of $110.00. The firm has a market capitalization of $8.67 billion, a P/E ratio of 54.94, a PEG ratio of 2.45 and a beta of 1.33. The company's 50-day moving average price is $96.06 and its 200 day moving average price is $97.38.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share 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.