Ninety One UK Ltd Has $205.27 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Ninety One UK Ltd grew its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 61.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,124,679 shares of the company's stock after purchasing an additional 806,023 shares during the period. Ninety One UK Ltd owned about 2.51% of Planet Fitness worth $205,265,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLNT. First Horizon Advisors Inc. raised its holdings in Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after purchasing an additional 490 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth $57,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Price Performance

PLNT traded up $1.28 on Friday, hitting $109.56. 201,205 shares of the stock were exchanged, compared to its average volume of 1,382,191. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $110.95. The business has a 50-day moving average of $103.67 and a two-hundred day moving average of $100.72. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 2.34 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The firm had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same period in the prior year, the company earned $0.53 EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLNT has been the subject of a number of research reports. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. BMO Capital Markets increased their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Macquarie reissued a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Three investment 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.63.

About Planet Fitness

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.