Cookson Peirce & Co. Inc. Acquires 94,759 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Cookson Peirce & Co. Inc. increased its holdings in Planet Fitness by 491.1%, acquiring an additional 94,759 shares in the second quarter, bringing their total ownership to 114,056 shares valued at approximately $12.4 million.
• Planet Fitness reported a 15.11% net margin and earnings of $0.86 per share for the last quarter, exceeding analyst estimates and reflecting a year-over-year revenue increase of 13.3%.
• Analysts are optimistic about Planet Fitness, with multiple firms issuing buy ratings and setting a price target around $125-126, indicating strong potential for future growth.

Cookson Peirce & Co. Inc. boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 491.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,056 shares of the company's stock after buying an additional 94,759 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.14% of Planet Fitness worth $12,438,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new stake in Planet Fitness during the second quarter valued at approximately $25,000. Brooklyn Investment Group grew its position in Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after buying an additional 118 shares during the period. First Horizon Advisors Inc. grew its position in Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after buying an additional 242 shares during the period. Farther Finance Advisors LLC grew its position in 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 buying an additional 387 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $65,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $96.50 on Wednesday. The firm has a fifty day moving average price of $101.60 and a 200 day moving average price of $102.63. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 42.89, a P/E/G ratio of 2.12 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLNT shares. UBS Group started coverage on shares of Planet Fitness in a research report on Friday, October 17th. They issued a "buy" rating and a $125.00 price target for the company. Jefferies Financial Group reiterated a "buy" rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price target on shares of Planet Fitness in a research report on Monday, September 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $112.50.

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.

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