Invesco Ltd. Buys 1,728,407 Shares of Planet Fitness, Inc. $PLNT

Invesco Ltd. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 358.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,211,139 shares of the company's stock after purchasing an additional 1,728,407 shares during the quarter. Invesco Ltd. owned about 2.61% of Planet Fitness worth $213,618,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock valued at $782,394,000 after buying an additional 62,716 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 period. Ninety One UK Ltd boosted its stake 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 purchasing an additional 806,023 shares during the period. Anomaly Capital Management LP boosted its stake in Planet Fitness by 20.3% in the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after purchasing an additional 299,148 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Planet Fitness by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company's stock valued at $115,407,000 after purchasing an additional 33,230 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 0.2%

PLNT stock traded down $0.26 during mid-day trading on Monday, reaching $107.26. 415,935 shares of the company traded hands, compared to its average volume of 1,510,534. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The firm's 50 day moving average price is $107.83 and its 200 day moving average price is $101.86. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 47.67, a P/E/G ratio of 2.39 and a beta of 1.40.

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

Analysts Set New Price Targets

PLNT has been the subject of several analyst reports. Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Morgan Stanley upped their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Three 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.38.

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.