Nippon Life Global Investors Americas Inc. Takes Position in Planet Fitness, Inc. $PLNT

Key Points

• Nippon Life Global Investors Americas Inc. has acquired a new stake in Planet Fitness, Inc., purchasing 59,080 shares valued at approximately $5.7 million.
• Planet Fitness reported earnings of $0.86 per share, surpassing analysts' estimates of $0.79, with a revenue increase of 13.3% year-over-year to $340.88 million.
• Currently, institutional investors own 95.53% of Planet Fitness, with recent activity showing significant increases in holdings from various investment groups.

Nippon Life Global Investors Americas Inc. purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 59,080 shares of the company's stock, valued at approximately $5,708,000. Nippon Life Global Investors Americas Inc. owned approximately 0.07% of Planet Fitness at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLNT. T. Rowe Price Investment Management Inc. grew its stake in shares of Planet Fitness by 6.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after acquiring an additional 496,047 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock valued at $782,394,000 after acquiring an additional 62,716 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $317,810,000 after acquiring an additional 1,268,262 shares in the last quarter. Invesco Ltd. grew its stake in shares of Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after acquiring an additional 1,728,407 shares in the last quarter. Finally, Ninety One UK Ltd grew its stake in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after acquiring an additional 806,023 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Macquarie reiterated a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.64.

Planet Fitness Trading Down 1.1%

NYSE PLNT traded down $1.13 during trading hours on Wednesday, reaching $101.45. The company's stock had a trading volume of 274,927 shares, compared to its average volume of 1,464,835. The business has a 50-day simple moving average of $107.61 and a 200 day simple moving average of $102.03. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47. The stock has a market cap of $8.55 billion, a PE ratio of 45.09, a PEG ratio of 2.32 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results 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. 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 for the quarter, compared to analysts' expectations of $329.59 million. During the same quarter last year, the company posted $0.71 earnings per share. Planet Fitness's revenue was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current 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.