Nuveen LLC Buys Shares of 278,261 Planet Fitness, Inc. $PLNT

Nuveen LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 278,261 shares of the company's stock, valued at approximately $26,883,000. Nuveen LLC owned about 0.33% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after purchasing an additional 242 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Planet Fitness in the fourth quarter valued at about $57,000. Finally, New Age Alpha Advisors LLC purchased a new position in Planet Fitness in the first quarter valued at about $65,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded up $2.3050 on Friday, reaching $109.2550. 204,231 shares of the company were exchanged, compared to its average volume of 1,501,387. The company's 50-day moving average is $108.21 and its two-hundred day moving average is $101.93. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 48.50, a P/E/G ratio of 2.39 and a beta of 1.40. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to analysts' expectations of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLNT. Macquarie reissued a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Morgan Stanley upped their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.38.

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.