Voya Investment Management LLC Has $3.23 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Voya Investment Management LLC increased its stake in Planet Fitness, purchasing an additional 8,345 shares, bringing its total holdings to 33,431 shares valued at $3.23 million.
• Various institutional investors have shown significant interest in Planet Fitness, with Brooklyn Investment Group and First Horizon Advisors both increasing their positions by over 50% in the first quarter.
• Wall Street analysts rate Planet Fitness as a "Moderate Buy" with an average target price of $108.64, indicating a positive outlook for the company’s stock performance.

Voya Investment Management LLC boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,431 shares of the company's stock after buying an additional 8,345 shares during the period. Voya Investment Management LLC's holdings in Planet Fitness were worth $3,230,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Planet Fitness by 6.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock worth $812,213,000 after acquiring an additional 496,047 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after purchasing an additional 62,716 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after acquiring an additional 1,268,262 shares during the period. Invesco Ltd. increased its stake in shares of Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after purchasing an additional 1,728,407 shares during the last quarter. Finally, Ninety One UK Ltd boosted its holdings in shares of Planet Fitness by 61.1% during the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after acquiring an additional 806,023 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLNT shares. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.64.

Planet Fitness Trading Down 0.0%

Planet Fitness stock traded down $0.02 during trading on Tuesday, hitting $101.77. The company had a trading volume of 368,703 shares, compared to its average volume of 1,452,352. The company's 50 day simple moving average is $106.39 and its 200-day simple moving average is $102.53. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The firm had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. During the same period in the prior year, the business earned $0.71 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. As a group, 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.