Bessemer Group Inc. Grows Position in Planet Fitness, Inc. (NYSE:PLNT)

Bessemer Group Inc. increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 359,755 shares of the company's stock after acquiring an additional 8,025 shares during the quarter. Bessemer Group Inc. owned about 0.42% of Planet Fitness worth $34,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC lifted its stake in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Planet Fitness in the fourth quarter worth about $51,000. Skandinaviska Enskilda Banken AB publ lifted its position 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 buying an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Planet Fitness during the fourth quarter valued at approximately $57,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Planet Fitness stock traded up $0.83 during mid-day trading on Friday, reaching $108.73. 3,101,460 shares of the company were exchanged, compared to its average volume of 1,389,396. The firm has a market cap of $9.15 billion, a P/E ratio of 51.29, a PEG ratio of 2.39 and a beta of 1.33. The business has a fifty day moving average of $101.56 and a 200 day moving average of $100.27. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $111.27.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of research reports. BMO Capital Markets lifted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Macquarie reissued a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.