Vontobel Holding Ltd. Takes $626,000 Position in Planet Fitness, Inc. $PLNT

Key Points

• Vontobel Holding Ltd. has acquired a new stake in Planet Fitness, Inc., purchasing 5,741 shares valued at approximately $626,000 during the second quarter.
• Institutional investors own 95.53% of Planet Fitness, with several hedge funds, including Brooklyn Investment Group and First Horizon Advisors, significantly increasing their holdings in the first quarter.
• Analysts have generally reaffirmed a positive outlook for Planet Fitness, with a consensus rating of "Moderate Buy" and a target price of $111.54.

Vontobel Holding Ltd. acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,741 shares of the company's stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLNT. Brooklyn Investment Group boosted its holdings in shares of Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after buying an additional 118 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after buying an additional 387 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Planet Fitness during the 1st quarter worth about $65,000. Finally, Friedenthal Financial bought a new stake in shares of Planet Fitness during the 1st quarter worth about $76,000. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PLNT shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of Planet Fitness in a report on Wednesday, October 8th. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.54.

Planet Fitness Trading Down 1.0%

Shares of NYSE:PLNT opened at $92.67 on Tuesday. The firm has a 50 day moving average of $103.05 and a 200-day moving average of $102.74. The stock has a market capitalization of $7.81 billion, a PE ratio of 41.19, a PEG ratio of 2.08 and a beta of 1.38. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The company 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 business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness 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.

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