Eagle Asset Management Inc. Purchases 846,128 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Eagle Asset Management Inc. raised its stake in Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 79.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,914,220 shares of the company’s stock after acquiring an additional 846,128 shares during the quarter. Planet Fitness makes up approximately 0.8% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. Eagle Asset Management Inc. owned 2.21% of Planet Fitness worth $174,825,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in Planet Fitness by 26.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 14,043 shares of the company’s stock valued at $1,272,000 after buying an additional 2,913 shares during the last quarter. WCM Investment Management LLC raised its holdings in Planet Fitness by 9.3% in the 4th quarter. WCM Investment Management LLC now owns 194,583 shares of the company’s stock valued at $17,625,000 after buying an additional 16,531 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Planet Fitness by 44.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 65,403 shares of the company’s stock valued at $5,137,000 after buying an additional 20,106 shares during the last quarter. Raymond James & Associates raised its holdings in Planet Fitness by 60.2% in the 4th quarter. Raymond James & Associates now owns 74,565 shares of the company’s stock valued at $6,754,000 after buying an additional 28,028 shares during the last quarter. Finally, Soroban Capital Partners LP raised its holdings in Planet Fitness by 938.3% in the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock valued at $251,049,000 after buying an additional 2,888,217 shares during the last quarter. 93.87% of the stock is owned by hedge funds and other institutional investors.

NYSE PLNT traded down $1.74 during mid-day trading on Thursday, hitting $67.82. The company’s stock had a trading volume of 1,554,426 shares, compared to its average volume of 1,003,773. The company’s 50 day simple moving average is $81.10 and its 200 day simple moving average is $85.46. Planet Fitness, Inc. has a twelve month low of $67.39 and a twelve month high of $99.60. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 105.99, a PEG ratio of 2.33 and a beta of 1.16.

Planet Fitness (NYSE:PLNTGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. During the same quarter last year, the firm posted $0.10 EPS. Planet Fitness’s revenue was up 66.8% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 1.54 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, May 11th. DA Davidson decreased their target price on shares of Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. StockNews.com began coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets decreased their target price on shares of Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. Finally, Evercore ISI began coverage on shares of Planet Fitness in a research report on Monday, March 14th. They set an “outperform” rating and a $130.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $96.50.

Planet Fitness Profile (Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

Further Reading

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

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