State of Wyoming Increases Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

State of Wyoming lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 177.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,423 shares of the company's stock after buying an additional 4,752 shares during the quarter. State of Wyoming's holdings in Planet Fitness were worth $734,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Planet Fitness by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after buying an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after buying an additional 2,570,826 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after buying an additional 36,803 shares in the last quarter. Anomaly Capital Management LP boosted its stake in shares of Planet Fitness by 20.3% in the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after buying an additional 299,148 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter valued at approximately $130,376,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLNT has been the subject of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Morgan Stanley lifted 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. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a "buy" rating in a report on Thursday. Macquarie reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

Planet Fitness Trading Up 0.5%

Shares of NYSE PLNT traded up $0.54 during trading on Friday, reaching $105.34. The company had a trading volume of 1,539,662 shares, compared to its average volume of 1,405,356. Planet Fitness, Inc. has a twelve month low of $60.56 and a twelve month high of $110.00. The stock has a market capitalization of $8.87 billion, a PE ratio of 56.64, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The stock has a 50-day moving average price of $97.27 and a two-hundred day moving average price of $99.05.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same period last year, the firm earned $0.53 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current 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.