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

Edgestream Partners L.P. acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,838 shares of the company's stock, valued at approximately $1,240,000.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 4th quarter worth $51,000. Raymond James Financial Inc. acquired a new stake in shares of Planet Fitness in the 4th quarter worth $2,988,000. Natixis Advisors LLC boosted its position in shares of Planet Fitness by 37.1% in the 4th quarter. Natixis Advisors LLC now owns 14,438 shares of the company's stock worth $1,427,000 after purchasing an additional 3,909 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after purchasing an additional 94 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Planet Fitness by 34.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 26,764 shares of the company's stock worth $2,646,000 after purchasing an additional 6,894 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent research reports. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley lifted their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Guggenheim reiterated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Macquarie reiterated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Up 2.2%

NYSE:PLNT opened at $112.56 on Friday. Planet Fitness, Inc. has a 52 week low of $68.75 and a 52 week high of $113.15. The company has a market capitalization of $9.48 billion, a P/E ratio of 53.09, a P/E/G ratio of 2.44 and a beta of 1.33. The stock's fifty day moving average is $105.15 and its two-hundred day moving average is $101.15.

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

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.

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.