Fiera Capital Corp Buys Shares of 324,098 Planet Fitness, Inc. (NYSE:PLNT)

Fiera Capital Corp bought a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 324,098 shares of the company's stock, valued at approximately $31,311,000. Fiera Capital Corp owned 0.38% of Planet Fitness as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Planet Fitness Price Performance

Shares of NYSE:PLNT traded down $1.66 during midday trading on Friday, hitting $107.53. 1,159,092 shares of the company's stock were exchanged, compared to its average volume of 1,103,311. The company has a market cap of $9.05 billion, a PE ratio of 50.72, a price-to-earnings-growth ratio of 2.44 and a beta of 1.40. The stock has a 50 day moving average price of $107.30 and a 200-day moving average price of $101.86. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $114.47.

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