Russell Investments Group Ltd. Acquires 6,636 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Russell Investments Group Ltd. increased its holdings in Planet Fitness by 87.8%, acquiring an additional 6,636 shares, bringing its total to 14,193 shares valued at approximately $1.37 million.
• Planet Fitness reported a quarterly earnings per share (EPS) of $0.86, exceeding analysts' expectations of $0.79, and showed a revenue increase of 13.3% year-over-year.
• Institutional investors own 95.53% of Planet Fitness stock, reflecting strong interest from hedge funds in the company.

Russell Investments Group Ltd. boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 87.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,193 shares of the company's stock after purchasing an additional 6,636 shares during the quarter. Russell Investments Group Ltd.'s holdings in Planet Fitness were worth $1,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew 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 worth $36,000 after purchasing an additional 242 shares during the period. CoreCap Advisors LLC grew 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 worth $48,000 after purchasing an additional 450 shares during the period. Farther Finance Advisors LLC grew 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 worth $50,000 after purchasing an additional 387 shares during the period. Lazard Asset Management LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $57,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $65,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PLNT shares. Macquarie reiterated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley upped their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Guggenheim reiterated a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.38.

Planet Fitness Trading Down 2.0%

PLNT stock traded down $2.14 during midday trading on Monday, reaching $104.66. 1,061,597 shares of the company's stock traded hands, compared to its average volume of 1,444,029. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47. The stock has a market cap of $8.82 billion, a P/E ratio of 46.51, a PEG ratio of 2.33 and a beta of 1.37. The stock's 50-day moving average is $108.26 and its 200 day moving average is $101.88.

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