Ninety One SA PTY Ltd Has $4.04 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Ninety One SA PTY Ltd raised its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,818 shares of the company's stock after acquiring an additional 16,134 shares during the quarter. Ninety One SA PTY Ltd's holdings in Planet Fitness were worth $4,040,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Planet Fitness by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after purchasing an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after buying an additional 2,570,826 shares in the last quarter. JPMorgan Chase & Co. increased its position in Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after buying an additional 36,803 shares in the last quarter. Ninety One UK Ltd increased its position in Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock worth $205,265,000 after buying an additional 806,023 shares in the last quarter. Finally, Anomaly Capital Management LP boosted its holdings in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after purchasing an additional 299,148 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of PLNT stock traded down $0.57 during trading hours on Tuesday, hitting $106.33. The company had a trading volume of 1,088,023 shares, compared to its average volume of 1,385,398. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 2.39 and a beta of 1.33. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $110.95. The firm's fifty day moving average is $102.98 and its 200 day moving average is $100.59.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted 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 negative return on equity of 88.70% and a net margin of 14.84%. The firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same period in the prior year, the company posted $0.53 EPS. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Macquarie reissued a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research report on Monday, May 12th. Finally, BMO Capital Markets lifted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.