First Trust Advisors LP Has $21.46 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

First Trust Advisors LP raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,042 shares of the company's stock after acquiring an additional 62,351 shares during the quarter. First Trust Advisors LP owned approximately 0.26% of Planet Fitness worth $21,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC grew its holdings in Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock valued at $2,352,000 after buying an additional 16,503 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after purchasing an additional 192 shares during the period. Everence Capital Management Inc. acquired a new stake in Planet Fitness during the fourth quarter worth about $240,000. Nordea Investment Management AB increased its position in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock worth $18,205,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Planet Fitness by 71.9% during the fourth quarter. Fulton Bank N.A. now owns 4,429 shares of the company's stock worth $438,000 after purchasing an additional 1,853 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE:PLNT traded up $0.52 during midday trading on Thursday, reaching $95.11. 633,452 shares of the company's stock were exchanged, compared to its average volume of 1,407,927. The company's 50 day simple moving average is $95.65 and its two-hundred day simple moving average is $96.79. The firm has a market capitalization of $8.05 billion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $58.51 and a 12 month high of $110.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Stifel Nicolaus reduced their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. DA Davidson reaffirmed a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Roth Mkm reiterated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.72.

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.