Junto Capital Management LP Invests $52.58 Million in Planet Fitness, Inc. $PLNT

Key Points

• Junto Capital Management LP acquired 544,252 shares of Planet Fitness, Inc. valued at approximately $52.58 million, making it 1.1% of their investment portfolio.
• Planet Fitness reported an earnings per share (EPS) of $0.86 for the latest quarter, beating analysts' expectations of $0.79, with revenues up 13.3% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Planet Fitness, with an average target price of $107.38, reflecting positive sentiments towards the stock.

Junto Capital Management LP bought a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 544,252 shares of the company's stock, valued at approximately $52,580,000. Planet Fitness makes up approximately 1.1% of Junto Capital Management LP's investment portfolio, making the stock its 28th largest holding. Junto Capital Management LP owned about 0.64% of Planet Fitness as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group boosted its stake in shares of Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after acquiring an additional 242 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after acquiring an additional 450 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after acquiring an additional 387 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Planet Fitness during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Morgan Stanley upped their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. 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's stock. According to data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus price target of $107.38.

Planet Fitness Stock Performance

NYSE PLNT traded down $0.03 during trading hours on Wednesday, reaching $101.69. 1,277,823 shares of the company's stock were exchanged, compared to its average volume of 1,486,143. The company's 50-day moving average is $108.05 and its two-hundred day moving average is $101.91. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share 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.