Deutsche Bank AG Purchases 59,778 Shares of Planet Fitness, Inc. $PLNT

Deutsche Bank AG lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 30.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 255,757 shares of the company's stock after acquiring an additional 59,778 shares during the quarter. Deutsche Bank AG owned 0.30% of Planet Fitness worth $24,709,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after acquiring an additional 62,716 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Planet Fitness during the 1st quarter valued at $65,000. PNC Financial Services Group Inc. raised its holdings in Planet Fitness by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company's stock valued at $313,000 after buying an additional 126 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in Planet Fitness during the 1st quarter valued at $206,000. Finally, Alberta Investment Management Corp purchased a new position in Planet Fitness during the 1st quarter valued at about $2,071,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Up 0.1%

PLNT stock traded up $0.15 during trading on Monday, reaching $107.67. The company's stock had a trading volume of 363,079 shares, compared to its average volume of 1,510,276. The company's fifty day moving average is $107.83 and its 200-day moving average is $101.86. Planet Fitness, Inc. has a 1 year low of $77.77 and a 1 year high of $114.47. The company has a market capitalization of $9.07 billion, a P/E ratio of 47.97, a price-to-earnings-growth ratio of 2.39 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $340.88 million for the quarter, compared to analysts' expectations of $329.59 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. Planet Fitness's quarterly revenue was up 13.3% on a year-over-year basis. Analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLNT. Guggenheim restated a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Macquarie reissued a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley increased their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three investment 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.38.

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.