Bessemer Group Inc. Buys 45,623 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bessemer Group Inc. lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 228,877 shares of the company’s stock after acquiring an additional 45,623 shares during the quarter. Bessemer Group Inc.’s holdings in Planet Fitness were worth $14,335,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Legato Capital Management LLC bought a new position in Planet Fitness in the 4th quarter worth $497,000. Pacer Advisors Inc. increased its holdings in shares of Planet Fitness by 80.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock worth $937,000 after purchasing an additional 5,719 shares during the period. Tran Capital Management L.P. raised its position in shares of Planet Fitness by 2.9% during the fourth quarter. Tran Capital Management L.P. now owns 137,535 shares of the company’s stock valued at $10,040,000 after buying an additional 3,888 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Planet Fitness during the 4th quarter valued at about $47,000. Finally, Perfromance Wealth Partners LLC acquired a new stake in Planet Fitness in the 4th quarter valued at $206,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Trading Down 0.9 %

Shares of NYSE:PLNT traded down $0.69 during trading on Thursday, hitting $74.71. 217,233 shares of the company were exchanged, compared to its average volume of 1,649,338. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 2.57 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $79.09. The firm has a fifty day moving average price of $70.48 and a two-hundred day moving average price of $66.87.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. Planet Fitness’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. As a group, research analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a report on Monday, June 10th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Piper Sandler boosted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Planet Fitness 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.