Bessemer Group Inc. Raises Stake in Planet Fitness, Inc. (NYSE:PLNT)

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

Other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in shares of Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $51,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $57,000. Institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of recent analyst reports. Macquarie reissued a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Guggenheim reissued a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. BMO Capital Markets raised their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Morgan Stanley raised their price target 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. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.63.

Planet Fitness Stock Up 0.8%

Shares of NYSE:PLNT traded up $0.83 on Friday, hitting $108.73. The company had a trading volume of 3,101,460 shares, compared to its average volume of 1,388,128. The firm's 50-day simple moving average is $101.56 and its two-hundred day simple moving average is $100.26. Planet Fitness, Inc. has a 1 year low of $68.75 and a 1 year high of $110.95. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 51.29, a P/E/G ratio of 2.41 and a beta of 1.33.

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