Envestnet Asset Management Inc. Buys 11,437 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Envestnet Asset Management Inc. raised its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,333 shares of the company's stock after acquiring an additional 11,437 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of Planet Fitness worth $17,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after acquiring an additional 2,570,826 shares in the last quarter. Norges Bank bought a new position in Planet Fitness in the fourth quarter worth about $100,009,000. Sequoia Financial Advisors LLC bought a new position in shares of Planet Fitness during the first quarter valued at approximately $54,384,000. Artemis Investment Management LLP increased its stake in shares of Planet Fitness by 253.5% during the first quarter. Artemis Investment Management LLP now owns 671,073 shares of the company's stock valued at $64,832,000 after purchasing an additional 481,263 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in shares of Planet Fitness by 103.4% during the fourth quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock valued at $1,104,000 after buying an additional 340,370 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLNT shares. Macquarie reiterated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. BMO Capital Markets lifted their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Morgan Stanley boosted their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $110.23 on Friday. The stock's fifty day moving average is $104.77 and its 200-day moving average is $101.06. The stock has a market capitalization of $9.28 billion, a PE ratio of 52.00, a PEG ratio of 2.43 and a beta of 1.33. Planet Fitness, Inc. has a 52 week low of $68.75 and a 52 week high of $113.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, analysts forecast 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.

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