Ninety One SA PTY Ltd Boosts Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Ninety One SA PTY Ltd increased its holdings in Planet Fitness, Inc. by 7.9% during the second quarter, owning a total of 45,118 shares valued at approximately $4.9 million.
• Several institutional investors have also expanded their stakes, with Brooklyn Investment Group raising its stake by 57.8% and First Horizon Advisors Inc. increasing by 187.6% in the first quarter.
• Despite recent growth, Planet Fitness shares have seen a 1.3% decline and currently trade around $103.83, with a consensus rating of "Moderate Buy" and an average price target of $111.54 according to analysts.

Ninety One SA PTY Ltd boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,118 shares of the company's stock after acquiring an additional 3,300 shares during the quarter. Ninety One SA PTY Ltd owned 0.05% of Planet Fitness worth $4,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group raised its stake in shares of Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after buying an additional 387 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Planet Fitness in the 1st quarter worth about $65,000. Finally, Friedenthal Financial purchased a new stake in shares of Planet Fitness during the 1st quarter valued at about $76,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PLNT shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Jefferies Financial Group restated a "buy" rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $126.00 target price on shares of Planet Fitness in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $111.54.

Planet Fitness Stock Down 1.3%

Shares of NYSE:PLNT opened at $103.83 on Wednesday. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47. The stock has a market capitalization of $8.75 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 2.34 and a beta of 1.37. The firm's 50 day moving average price is $105.45 and its 200-day moving average price is $102.86.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $329.59 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. Analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.

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