Cookson Peirce & Co. Inc. Takes $1.86 Million Position in Planet Fitness, Inc. $PLNT

Key Points

• Cookson Peirce & Co. Inc. has made a new investment in Planet Fitness by acquiring 19,297 shares valued at approximately $1,864,000.
• Institutional investors and hedge funds collectively own 95.53% of Planet Fitness stock, with significant recent acquisitions from firms like Vanguard and T. Rowe Price.
• Planet Fitness reported quarterly earnings of $0.86 per share, exceeding analysts' expectations, and a revenue increase of 13.3% compared to the previous year.

Cookson Peirce & Co. Inc. acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,297 shares of the company's stock, valued at approximately $1,864,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at $27,161,000. Russell Investments Group Ltd. lifted its holdings in shares of Planet Fitness by 87.8% in the first quarter. Russell Investments Group Ltd. now owns 14,193 shares of the company's stock valued at $1,371,000 after purchasing an additional 6,636 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at $1,770,000. Nuveen LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at $26,883,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Planet Fitness in the first quarter valued at $265,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

PLNT has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $126.00 target price 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 stock an "overweight" rating in a report on Friday, May 9th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Macquarie reiterated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $107.38.

Planet Fitness Trading Down 0.4%

PLNT stock traded down $0.43 during trading on Monday, reaching $107.09. 1,380,956 shares of the stock were exchanged, compared to its average volume of 1,517,042. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47. The company has a market capitalization of $9.02 billion, a P/E ratio of 47.60, a price-to-earnings-growth ratio of 2.39 and a beta of 1.40. The stock has a 50 day simple moving average of $107.83 and a 200-day simple moving average of $101.86.

Planet Fitness (NYSE:PLNT - Get Free Report) last released 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. The business had revenue of $340.88 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.