Price T Rowe Associates Inc. MD Has $116.45 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Price T Rowe Associates Inc. MD raised its position in Planet Fitness, Inc. (NYSE:PLNT) by 35.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,859,366 shares of the company’s stock after acquiring an additional 483,586 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.11% of Planet Fitness worth $116,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PLNT. Pacer Advisors Inc. lifted its stake in Planet Fitness by 80.4% in the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after acquiring an additional 5,719 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the fourth quarter valued at $47,000. Perfromance Wealth Partners LLC acquired a new stake in Planet Fitness in the fourth quarter valued at $206,000. Osborne Partners Capital Management LLC lifted its stake in Planet Fitness by 0.7% in the fourth quarter. Osborne Partners Capital Management LLC now owns 129,481 shares of the company’s stock valued at $9,452,000 after acquiring an additional 940 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $389,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Down 1.2 %

Shares of NYSE:PLNT traded down $0.88 during midday trading on Monday, reaching $74.11. The company had a trading volume of 254,813 shares, compared to its average volume of 1,642,568. The company’s 50 day moving average price is $70.90 and its 200 day moving average price is $66.84. The stock has a market cap of $6.53 billion, a P/E ratio of 43.10, a P/E/G ratio of 2.52 and a beta of 1.49. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $79.09.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird raised their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $77.64.

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.