21,435 Shares in Planet Fitness, Inc. (NYSE:PLNT) Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp acquired a new stake in Planet Fitness, purchasing 21,435 shares valued at approximately $2,071,000.
• Planet Fitness' stock traded up 2.6% to reach $110.37, with a market capitalization of $9.29 billion.
• Analysts have given a majority of buy ratings to Planet Fitness, with an average target price of $106.63.

Alberta Investment Management Corp bought a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,435 shares of the company's stock, valued at approximately $2,071,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Planet Fitness by 7.4% during the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company's stock valued at $217,000 after buying an additional 155 shares during the last quarter. Xponance Inc. boosted its holdings in Planet Fitness by 1.1% in the 1st quarter. Xponance Inc. now owns 13,767 shares of the company's stock worth $1,330,000 after buying an additional 156 shares during the period. State of Michigan Retirement System raised its holdings in Planet Fitness by 1.0% during the first quarter. State of Michigan Retirement System now owns 20,100 shares of the company's stock valued at $1,942,000 after acquiring an additional 200 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Planet Fitness by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the company's stock worth $2,280,000 after acquiring an additional 200 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Shares of NYSE PLNT traded down $0.79 during trading on Tuesday, hitting $109.49. 1,870,408 shares of the company were exchanged, compared to its average volume of 1,201,280. Planet Fitness, Inc. has a 1 year low of $73.70 and a 1 year high of $114.47. The firm's fifty day moving average price is $107.40 and its 200 day moving average price is $101.84. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 51.65, a PEG ratio of 2.47 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). The business had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. Planet Fitness's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PLNT shares. Morgan Stanley upped their target price 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. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Guggenheim reiterated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Macquarie restated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.63.

About Planet Fitness

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.