Natixis Advisors LLC Has $2.69 Million Holdings in 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% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,799 shares of the company's stock after buying 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 reporting period.

A number of other hedge funds have also modified their holdings of PLNT. T. Rowe Price Investment Management Inc. raised its holdings in shares of Planet Fitness by 48.1% in 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 buying an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock worth $205,265,000 after buying an additional 806,023 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Planet Fitness during the 1st quarter worth approximately $54,384,000. Artemis Investment Management LLP grew its position in Planet Fitness by 253.5% during the 1st quarter. Artemis Investment Management LLP now owns 671,073 shares of the company's stock worth $64,832,000 after acquiring an additional 481,263 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in Planet Fitness by 103.4% during the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock worth $1,104,000 after acquiring an additional 340,370 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

PLNT stock traded up $0.02 during midday trading on Tuesday, hitting $105.89. 320,230 shares of the company's stock were exchanged, compared to its average volume of 1,520,984. The stock's fifty day moving average price is $107.74 and its 200-day moving average price is $101.87. The company has a market cap of $8.91 billion, a PE ratio of 47.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.40. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47.

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

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of research analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday. Morgan Stanley increased their price target on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Macquarie restated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Three investment 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 company's stock. Based on data from MarketBeat, the stock 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.