Fmr LLC Acquires 194,157 Shares of Planet Fitness, Inc. (NYSE:PLNT)

FMR LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 989,642 shares of the company's stock after buying an additional 194,157 shares during the period. FMR LLC owned approximately 1.17% of Planet Fitness worth $97,846,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ninety One UK Ltd purchased a new position in Planet Fitness in the fourth quarter valued at about $130,376,000. Norges Bank bought a new position in Planet Fitness during the fourth quarter valued at $100,009,000. WCM Investment Management LLC purchased a new stake in Planet Fitness in the fourth quarter worth $22,289,000. Artemis Investment Management LLP bought a new stake in shares of Planet Fitness in the fourth quarter valued at $18,767,000. Finally, American Century Companies Inc. lifted its position in shares of Planet Fitness by 36.4% during the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company's stock valued at $54,049,000 after buying an additional 145,799 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Down 0.9 %

Shares of NYSE PLNT traded down $0.80 during trading hours on Monday, reaching $93.01. 1,218,716 shares of the stock traded hands, compared to its average volume of 1,433,499. The company has a market capitalization of $7.88 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. The company's 50-day simple moving average is $96.28 and its two-hundred day simple moving average is $96.27. Planet Fitness, Inc. has a 52-week low of $58.23 and a 52-week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the firm posted $0.60 earnings per share. The business's revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PLNT. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price objective on the stock. Guggenheim lifted their price objective on shares of Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Macquarie dropped their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Roth Mkm reiterated a "buy" rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and an average price target of $101.72.

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.