Frontier Capital Management Co. LLC Acquires 43,587 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Frontier Capital Management Co. LLC grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 587,140 shares of the company's stock after purchasing an additional 43,587 shares during the period. Frontier Capital Management Co. LLC owned about 0.69% of Planet Fitness worth $58,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. raised its stake in shares of Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of Planet Fitness during the fourth quarter valued at $130,376,000. Norges Bank bought a new position in shares of Planet Fitness during the fourth quarter valued at $100,009,000. Invesco Ltd. raised its stake in shares of Planet Fitness by 199.7% during the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after acquiring an additional 321,644 shares during the last quarter. Finally, Anomaly Capital Management LP raised its stake in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after acquiring an additional 299,148 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Up 0.1%

NYSE:PLNT traded up $0.07 during mid-day trading on Tuesday, hitting $94.30. 728,187 shares of the stock traded hands, compared to its average volume of 1,408,330. Planet Fitness, Inc. has a 12-month low of $60.56 and a 12-month high of $110.00. The company has a market cap of $7.98 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The business's 50-day moving average price is $96.26 and its 200 day moving average price is $97.97.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly 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 107.97% and a net margin of 14.23%. The company had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same period in the prior year, the firm earned $0.53 EPS. Planet Fitness's quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. DA Davidson reiterated a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Stifel Nicolaus lowered their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Finally, Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.00.

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.