Edgestream Partners L.P. Invests $1.24 Million in Planet Fitness, Inc. (NYSE:PLNT)

Edgestream Partners L.P. purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,838 shares of the company's stock, valued at approximately $1,240,000.

Other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the period. Norges Bank purchased a new position in shares of Planet Fitness in the fourth quarter valued at $100,009,000. Ninety One UK Ltd raised its position in Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock worth $205,265,000 after acquiring an additional 806,023 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Planet Fitness in the 1st quarter valued at approximately $54,384,000. Finally, Artemis Investment Management LLP increased its position in Planet Fitness by 253.5% during the first quarter. Artemis Investment Management LLP now owns 671,073 shares of the company's stock worth $64,832,000 after buying an additional 481,263 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLNT shares. BMO Capital Markets raised their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Morgan Stanley lifted their target price on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. 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. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Up 3.3%

PLNT traded up $3.60 on Tuesday, hitting $113.62. The company had a trading volume of 1,492,462 shares, compared to its average volume of 1,384,218. The business's fifty day simple moving average is $105.15 and its 200 day simple moving average is $101.18. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $116.60. The company has a market cap of $9.57 billion, a PE ratio of 53.60, a PEG ratio of 2.46 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The company had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same period last year, the firm earned $0.53 earnings per share. Planet Fitness's quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.