Zions Bancorporation National Association UT Invests $2.39 Million in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Zions Bancorporation National Association UT has acquired a new stake in Planet Fitness, purchasing 24,778 shares valued at approximately $2.4 million during the first quarter.
• Multiple hedge funds, including Deutsche Bank AG and Vanguard Group Inc., have also increased their stakes in Planet Fitness, contributing to an overall institutional ownership of 95.53% of the company's stock.
• Planet Fitness reported an EPS of $0.86 for the last quarter, exceeding expectations, with a revenue increase of 13.3% year-over-year, amounting to $340.88 million.

Zions Bancorporation National Association UT acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,778 shares of the company's stock, valued at approximately $2,394,000.

A number of other hedge funds also recently bought and sold shares of the business. Deutsche Bank AG raised its holdings in Planet Fitness by 30.5% in the 1st quarter. Deutsche Bank AG now owns 255,757 shares of the company's stock valued at $24,709,000 after acquiring an additional 59,778 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Planet Fitness by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after buying an additional 62,716 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Planet Fitness during the 1st quarter worth approximately $65,000. PNC Financial Services Group Inc. increased its holdings in shares of Planet Fitness by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company's stock worth $313,000 after buying an additional 126 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Planet Fitness during the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

PLNT has been the subject of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Macquarie restated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Morgan Stanley raised their price target 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. Finally, Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of "Moderate Buy" and an average price target of $107.38.

Planet Fitness Stock Up 0.9%

PLNT stock traded up $0.97 during midday trading on Wednesday, hitting $107.20. The company's stock had a trading volume of 354,592 shares, compared to its average volume of 1,522,325. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47. The firm has a market capitalization of $9.03 billion, a P/E ratio of 47.64, a PEG ratio of 2.36 and a beta of 1.40. The firm has a 50-day simple moving average of $107.76 and a 200-day simple moving average of $101.90.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly 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. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. During the same quarter last year, the company posted $0.71 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share 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.