Natixis Advisors LLC Buys 13,361 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Natixis Advisors LLC increased its stake in Planet Fitness by 92.5% to 27,799 shares, worth approximately $2.69 million as of its latest SEC filing.
• Planet Fitness stock rose 1.3%, trading at $106.75, with a market cap of $8.99 billion following better-than-expected quarterly earnings.
• Analysts maintain a consensus of "Moderate Buy" for Planet Fitness, with price targets ranging from $95.00 to $126.00, indicating positive market sentiment.

Natixis Advisors LLC lifted its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 92.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,799 shares of the company's stock after purchasing an additional 13,361 shares during the period. Natixis Advisors LLC's holdings in Planet Fitness were worth $2,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PLNT. LPL Financial LLC boosted its position in shares of Planet Fitness by 12.1% in the 4th quarter. LPL Financial LLC now owns 44,662 shares of the company's stock worth $4,546,000 after purchasing an additional 4,829 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $235,000. Trexquant Investment LP acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $571,000. Wells Fargo & Company MN raised its stake in shares of Planet Fitness by 111.4% in the 4th quarter. Wells Fargo & Company MN now owns 183,784 shares of the company's stock valued at $18,171,000 after purchasing an additional 96,841 shares during the period. Finally, FMR LLC raised its stake in shares of Planet Fitness by 24.4% in the 4th quarter. FMR LLC now owns 989,642 shares of the company's stock valued at $97,846,000 after purchasing an additional 194,157 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Trading Up 1.3%

Shares of NYSE:PLNT traded up $1.37 during trading on Friday, reaching $106.75. 1,561,159 shares of the stock were exchanged, compared to its average volume of 1,518,381. Planet Fitness, Inc. has a 12 month low of $77.36 and a 12 month high of $114.47. The firm has a market cap of $8.99 billion, a PE ratio of 47.45, a PEG ratio of 2.38 and a beta of 1.40. The stock has a 50-day moving average price of $107.73 and a 200-day moving average price of $101.89.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLNT. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley raised their price target on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Guggenheim restated a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. Three equities research 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 stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.38.

Planet Fitness 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.