TD Asset Management Inc Has $52.66 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• TD Asset Management Inc increased its ownership of shares in Planet Fitness by 5.5%, acquiring an additional 28,634 shares, bringing its total to 545,072 shares valued at approximately $52.66 million.
• The company's recent earnings report showed a EPS of $0.59, which missed the consensus estimate of $0.62, along with a revenue of $276.66 million, below the expected $279.80 million.
• Analysts have provided a mixed outlook for Planet Fitness, with a consensus rating of "Moderate Buy" and various target prices ranging from $95.00 to $126.00, indicating confidence in the stock's performance.

TD Asset Management Inc lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 5.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 545,072 shares of the company's stock after acquiring an additional 28,634 shares during the period. TD Asset Management Inc owned approximately 0.64% of Planet Fitness worth $52,659,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of Planet Fitness during the 4th quarter worth about $11,963,000. Freestone Grove Partners LP bought a new position in shares of Planet Fitness during the 4th quarter worth about $25,676,000. Jump Financial LLC bought a new position in shares of Planet Fitness during the 4th quarter worth about $965,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Planet Fitness in the fourth quarter valued at about $3,378,000. Finally, KBC Group NV boosted its position in Planet Fitness by 13.7% in the first quarter. KBC Group NV now owns 3,503 shares of the company's stock valued at $338,000 after buying an additional 422 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLNT has been the subject of several recent analyst reports. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Macquarie reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Finally, Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Performance

PLNT traded down $0.56 during trading on Thursday, reaching $110.47. 394,102 shares of the company's stock were exchanged, compared to its average volume of 1,491,411. The company's fifty day moving average price is $107.17 and its 200-day moving average price is $101.79. Planet Fitness, Inc. has a fifty-two week low of $68.75 and a fifty-two week high of $114.47. The firm has a market capitalization of $9.30 billion, a PE ratio of 52.18, a P/E/G ratio of 2.47 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates 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 business 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 firm posted $0.53 EPS. Planet Fitness's revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.