American Century Companies Inc. Grows Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• American Century Companies Inc. increased its stake in Planet Fitness by 32.4%, acquiring an additional 177,188 shares, bringing its total to 723,852 shares valued at approximately $69.93 million.
• Analysts have favorable outlooks on Planet Fitness, with target prices ranging from $95.00 to $126.00, and a consensus rating of "Moderate Buy".
• Planet Fitness reported a revenue of $340.88 million for the last quarter, which is a 13.3% increase year-over-year, surpassing analysts' expectations.

American Century Companies Inc. raised its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 723,852 shares of the company's stock after purchasing an additional 177,188 shares during the quarter. American Century Companies Inc. owned 0.85% of Planet Fitness worth $69,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. T. Rowe Price Investment Management Inc. raised its stake in shares of Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the last quarter. Invesco Ltd. raised its stake in shares of Planet Fitness by 358.0% in the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after purchasing an additional 1,728,407 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after acquiring an additional 806,023 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $54,384,000. Finally, Artemis Investment Management LLP increased its position in shares of Planet Fitness by 253.5% during the first quarter. Artemis Investment Management LLP now owns 671,073 shares of the company's stock valued at $64,832,000 after acquiring an additional 481,263 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley increased their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Guggenheim reissued a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Planet Fitness presently has an average rating of "Moderate Buy" and a consensus target price of $107.38.

Planet Fitness Price Performance

Shares of Planet Fitness stock traded up $0.5690 during trading hours on Friday, reaching $107.5190. The company had a trading volume of 925,842 shares, compared to its average volume of 1,500,225. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47. The business has a fifty day simple moving average of $108.31 and a 200 day simple moving average of $101.93. The firm has a market cap of $9.06 billion, a PE ratio of 47.79, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40.

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