Planet Fitness, Inc. $PLNT Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Planet Fitness, Inc. by 0.4%, now owning approximately 1.38% of the company, valued at $113.25 million.
• Planet Fitness reported earnings per share (EPS) of $0.86 for the last quarter, exceeding analyst expectations and showing a revenue increase of 13.3% year-over-year.
• Analysts continue to show confidence in Planet Fitness, with a consensus rating of "Moderate Buy" and an average target price of $107.38.

Dimensional Fund Advisors LP grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,172,295 shares of the company's stock after purchasing an additional 5,078 shares during the period. Dimensional Fund Advisors LP owned approximately 1.38% of Planet Fitness worth $113,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares during the period. Farther Finance Advisors LLC boosted its holdings in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares during the period. Lazard Asset Management LLC acquired a new position in Planet Fitness in the fourth quarter worth $57,000. Finally, New Age Alpha Advisors LLC acquired a new position in Planet Fitness in the first quarter worth $65,000. Institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.38.

Planet Fitness Stock Performance

Shares of PLNT traded up $1.07 during midday trading on Thursday, hitting $106.75. 842,714 shares of the stock traded hands, compared to its average volume of 1,468,206. The firm has a market capitalization of $8.99 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.40. The business's 50 day moving average price is $108.31 and its two-hundred day moving average price is $101.89. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data 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. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal 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.