Fmr LLC Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

FMR LLC bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,100 shares of the company’s stock, valued at approximately $599,000. FMR LLC owned approximately 0.05% of Planet Fitness at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PLNT. Alliancebernstein L.P. increased its stake in shares of Planet Fitness by 11.1% in the first quarter. Alliancebernstein L.P. now owns 5,948,306 shares of the company’s stock worth $114,624,000 after buying an additional 593,265 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth $639,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Planet Fitness during the first quarter worth $734,000. Guggenheim Capital LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth $228,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock worth $383,000 after buying an additional 8,916 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

Planet Fitness, Inc. (NYSE:PLNT) opened at 23.53 on Friday. The firm’s 50-day moving average is $23.25 and its 200-day moving average is $21.45. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.19. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 40.57 and a beta of 0.90.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $107.31 million for the quarter, compared to analyst estimates of $101.99 million. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, equities analysts anticipate that Planet Fitness, Inc. will post $0.47 EPS for the current year.

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A number of brokerages recently weighed in on PLNT. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Roth Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Planet Fitness in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $29.00 price objective (up previously from $26.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Imperial Capital boosted their price objective on shares of Planet Fitness from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $26.89.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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