Planet Fitness, Inc. $PLNT Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Planet Fitness by 135.2% during the 1st quarter, bringing its total holdings to 8,313 shares valued at approximately $795,000.
• Planet Fitness reported $0.86 earnings per share for the last quarter, surpassing analyst expectations of $0.79, and achieved revenue growth of 13.3% year-over-year.
• Institutional investors own 95.53% of Planet Fitness stock, reflecting strong interest from large investment firms in the company.

Ethic Inc. raised its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 135.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,313 shares of the company's stock after acquiring an additional 4,779 shares during the quarter. Ethic Inc.'s holdings in Planet Fitness were worth $795,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Planet Fitness by 0.8% in 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. T. Rowe Price Investment Management Inc. grew its position in shares of 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. Invesco Ltd. grew its position 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 worth $213,618,000 after buying an additional 1,728,407 shares in the last quarter. Ninety One UK Ltd grew its position 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 worth $205,265,000 after buying an additional 806,023 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Planet Fitness by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,172,295 shares of the company's stock worth $113,250,000 after buying an additional 5,078 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $107.41 on Thursday. The company has a market cap of $9.05 billion, a PE ratio of 47.74, a P/E/G ratio of 2.41 and a beta of 1.40. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47. The company has a fifty day moving average price of $108.15 and a two-hundred day moving average price of $101.94.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The company 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 firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLNT shares. Morgan Stanley raised 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. 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. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.38.

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.

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