Sei Investments Co. Increases Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Sei Investments Co. increased its stake in Planet Fitness, Inc. by 2.5% during the first quarter, owning 113,026 shares valued at approximately $11.17 million.
• Planet Fitness reported earnings per share (EPS) of $0.86 for the last quarter, surpassing the consensus estimate of $0.79 and achieving a revenue of $340.88 million, marking a 13.3% increase year-over-year.
• The company's stock has an average rating of "Moderate Buy" with a target price averaging $107.38, reflecting positive sentiment from multiple analysts.

Sei Investments Co. lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,026 shares of the company's stock after purchasing an additional 2,761 shares during the quarter. Sei Investments Co. owned 0.13% of Planet Fitness worth $11,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cookson Peirce & Co. Inc. bought a new stake in Planet Fitness during the 1st quarter worth approximately $1,864,000. Lord Abbett & CO. LLC bought a new stake in Planet Fitness during the 1st quarter worth approximately $27,161,000. Russell Investments Group Ltd. grew its holdings in Planet Fitness by 87.8% during the 1st quarter. Russell Investments Group Ltd. now owns 14,193 shares of the company's stock worth $1,371,000 after acquiring an additional 6,636 shares during the last quarter. Informed Momentum Co LLC bought a new stake in Planet Fitness during the 1st quarter worth approximately $1,770,000. Finally, Nuveen LLC bought a new stake in Planet Fitness during the 1st quarter worth approximately $26,883,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Planet Fitness Stock Up 1.0%

PLNT traded up $1.0560 during trading on Tuesday, hitting $107.9260. 544,204 shares of the company's stock were exchanged, compared to its average volume of 1,510,696. The business's 50 day moving average is $107.92 and its two-hundred day moving average is $101.86. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The stock has a market cap of $9.09 billion, a P/E ratio of 48.10, a PEG ratio of 2.39 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $329.59 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share 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.