Gotham Asset Management LLC Has $23.19 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Gotham Asset Management LLC increased its ownership of Planet Fitness, Inc. by 22.6%, holding 240,037 shares worth approximately $23.19 million as of its latest SEC filing.
• Planet Fitness reported a quarterly revenue of $340.88 million, exceeding analysts' expectations and marking a 13.3% increase year-over-year.
• Analysts currently have a consensus rating of "Moderate Buy" for Planet Fitness, with an average price target of $108.07.

Gotham Asset Management LLC grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,037 shares of the company's stock after buying an additional 44,245 shares during the quarter. Gotham Asset Management LLC owned approximately 0.28% of Planet Fitness worth $23,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. Hsbc Holdings PLC bought a new stake in Planet Fitness during the 4th quarter worth about $290,000. BNP Paribas Financial Markets raised its holdings in shares of Planet Fitness by 971.4% in the 4th quarter. BNP Paribas Financial Markets now owns 100,009 shares of the company's stock valued at $9,888,000 after purchasing an additional 90,675 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of Planet Fitness by 8.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 587,140 shares of the company's stock valued at $58,050,000 after purchasing an additional 43,587 shares during the period. Finally, Fred Alger Management LLC raised its holdings in shares of Planet Fitness by 18.9% in the 4th quarter. Fred Alger Management LLC now owns 438,176 shares of the company's stock valued at $43,322,000 after purchasing an additional 69,786 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLNT shares. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Macquarie reaffirmed 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 target price on shares of Planet Fitness in a report on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $108.64.

Planet Fitness Stock Performance

PLNT traded down $1.68 on Tuesday, reaching $102.55. The company had a trading volume of 753,810 shares, compared to its average volume of 1,471,980. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The stock has a market cap of $8.64 billion, a P/E ratio of 45.58, a P/E/G ratio of 2.33 and a beta of 1.37. The company's fifty day moving average is $107.69 and its 200 day moving average is $102.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same quarter in the prior year, the business earned $0.71 EPS. Planet Fitness's quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current 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.