2,747 Shares in Planet Fitness, Inc. $PLNT Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired a new stake in Planet Fitness, Inc., purchasing 2,747 shares valued at approximately $265,000 in the first quarter of the year.
• Several institutional investors significantly increased their positions in Planet Fitness, with Invesco Ltd. raising its stake by 358% to over $213 million.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" and a price target averaging $107.38 for Planet Fitness shares.

Aigen Investment Management LP purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,747 shares of the company's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after purchasing an additional 1,728,407 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Planet Fitness in the 1st quarter valued at about $2,394,000. Deutsche Bank AG boosted its holdings in Planet Fitness by 30.5% in the 1st quarter. Deutsche Bank AG now owns 255,757 shares of the company's stock valued at $24,709,000 after purchasing an additional 59,778 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock valued at $782,394,000 after purchasing an additional 62,716 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Planet Fitness in the 1st quarter valued at about $65,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLNT has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Macquarie restated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $107.38.

Planet Fitness Price Performance

Shares of PLNT traded up $0.7150 during midday trading on Tuesday, reaching $107.5850. The stock had a trading volume of 250,594 shares, compared to its average volume of 1,508,880. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47. The company's fifty day simple moving average is $107.92 and its two-hundred day simple moving average is $101.86. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 47.80, a PEG ratio of 2.39 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company's revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.