BNP Paribas Financial Markets Boosts Stake in Planet Fitness, Inc. (NYSE:PLNT)

BNP Paribas Financial Markets increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 971.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,009 shares of the company's stock after acquiring an additional 90,675 shares during the period. BNP Paribas Financial Markets owned about 0.12% of Planet Fitness worth $9,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. R Squared Ltd acquired a new position in Planet Fitness during the 4th quarter worth about $39,000. UMB Bank n.a. lifted its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the period. Beaumont Financial Advisors LLC bought a new stake in Planet Fitness in the fourth quarter valued at approximately $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Planet Fitness during the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

PLNT has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Roth Mkm reaffirmed a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Macquarie reiterated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday. Canaccord Genuity Group began coverage on Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.00.

Planet Fitness Stock Up 0.1%

PLNT stock traded up $0.05 during mid-day trading on Thursday, reaching $98.02. 1,986,286 shares of the company traded hands, compared to its average volume of 1,412,603. The firm's 50 day moving average price is $96.27 and its 200 day moving average price is $97.94. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 52.70, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $60.56 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. On average, analysts anticipate 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.