Bwcp LP Purchases New Stake in Planet Fitness, Inc. $PLNT

Key Points

• Bwcp LP has acquired a new stake in Planet Fitness, Inc. valued at approximately $29.15 million, representing 5.9% of its holdings and making it the firm's 4th largest investment.
• Institutional investors own 95.53% of Planet Fitness stock, indicating strong institutional interest in the company, with various funds increasing their stakes in the last quarter.
• Analysts provide a consensus rating of "Moderate Buy" for Planet Fitness, with an average price target of $107.38, reflecting positive sentiment towards the stock's future performance.

Bwcp LP bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 301,748 shares of the company's stock, valued at approximately $29,152,000. Planet Fitness accounts for about 5.9% of Bwcp LP's portfolio, making the stock its 4th biggest holding. Bwcp LP owned about 0.36% of Planet Fitness at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLNT. Invesco Ltd. boosted its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock valued at $317,810,000 after acquiring an additional 1,268,262 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Planet Fitness by 61.1% in the 1st 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 bought a new stake in shares of Planet Fitness in the 1st quarter valued at about $54,384,000. Finally, Junto Capital Management LP bought a new stake in Planet Fitness during the 1st quarter worth approximately $52,580,000. Institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PLNT. Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $108.64.

Planet Fitness Trading Up 1.4%

PLNT stock traded up $1.48 during trading on Friday, hitting $104.44. The company had a trading volume of 1,003,553 shares, compared to its average volume of 1,046,495. The business has a 50-day moving average of $107.79 and a 200-day moving average of $101.96. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47. The stock has a market cap of $8.80 billion, a PE ratio of 46.42, a PEG ratio of 2.33 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS 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 the consensus estimate 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. 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.