9,768 Shares in Planet Fitness, Inc. $PLNT Bought by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. acquired a new stake in Planet Fitness, Inc., purchasing 9,768 shares valued at approximately $944,000 in the first quarter.
• Multiple institutional investors, including T. Rowe Price and Vanguard Group, increased their holdings in Planet Fitness, with institutional ownership now at 95.53%.
• Planet Fitness reported a Q2 earnings of $0.86 per share, exceeding the estimated $0.79, along with a revenue increase of 13.3% year-over-year.

Landscape Capital Management L.L.C. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,768 shares of the company's stock, valued at approximately $944,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLNT. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 6.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock worth $812,213,000 after purchasing an additional 496,047 shares during the period. Vanguard Group Inc. increased its stake in Planet Fitness by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock valued at $782,394,000 after purchasing an additional 62,716 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after buying an additional 1,268,262 shares during the period. Invesco Ltd. lifted its position in Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after buying an additional 1,728,407 shares during the period. Finally, Ninety One UK Ltd grew 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 period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Shares of PLNT stock traded down $0.03 during trading hours on Wednesday, reaching $101.69. The stock had a trading volume of 617,196 shares, compared to its average volume of 1,481,304. The firm has a market capitalization of $8.57 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37. The firm has a 50-day simple moving average of $108.05 and a 200-day simple moving average of $101.91. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Planet Fitness's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLNT. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. 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. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Morgan Stanley upped their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus target price 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.