Northstar Advisory Group LLC Boosts Stock Position in Planet Fitness, Inc. $PLNT

Key Points

• Northstar Advisory Group LLC increased its stake in Planet Fitness by 25.2% during the second quarter, bringing its total to 15,539 shares valued at approximately $1.7 million.
• Several other large institutional investors, including T. Rowe Price and Invesco, have also made significant increases to their positions in Planet Fitness, indicating strong investor confidence.
• Analysts have set optimistic price targets for Planet Fitness, with a consensus of $108.64 per share and several firms providing "buy" ratings, reflecting positive outlooks on the company's performance.

Northstar Advisory Group LLC grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 25.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,539 shares of the company's stock after buying an additional 3,129 shares during the period. Northstar Advisory Group LLC's holdings in Planet Fitness were worth $1,695,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of Planet Fitness by 6.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after buying an additional 496,047 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after purchasing an additional 62,716 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after purchasing an additional 1,268,262 shares in the last quarter. Invesco Ltd. lifted its holdings in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after purchasing an additional 1,728,407 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in 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 purchasing an additional 806,023 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLNT. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus price target of $108.64.

Planet Fitness Stock Performance

NYSE:PLNT opened at $101.90 on Monday. The stock's fifty day moving average is $107.31 and its 200 day moving average is $102.29. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The firm has a market capitalization of $8.58 billion, a PE ratio of 45.29, a PEG ratio of 2.26 and a beta of 1.37.

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 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 company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same quarter in the prior year, the firm posted $0.71 EPS. Planet Fitness's quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.

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