Planet Fitness, Inc. (NYSE:PLNT) Stock Position Boosted by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 69.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,174 shares of the company’s stock after buying an additional 7,029 shares during the period. Penserra Capital Management LLC’s holdings in Planet Fitness were worth $1,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC lifted its holdings in Planet Fitness by 30.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $289,000 after acquiring an additional 691 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Planet Fitness by 5.8% in the 1st quarter. Teacher Retirement System of Texas now owns 35,213 shares of the company’s stock valued at $3,402,000 after acquiring an additional 1,931 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock valued at $36,000 after acquiring an additional 242 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Planet Fitness by 70.6% in the 1st quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock valued at $3,246,000 after acquiring an additional 13,900 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Planet Fitness by 13.7% in the 1st quarter. KBC Group NV now owns 3,503 shares of the company’s stock valued at $338,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 0.5%

Shares of PLNT opened at $106.33 on Wednesday. The company’s fifty day moving average is $103.19 and its 200-day moving average is $100.63. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $110.95. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 2.37 and a beta of 1.33.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The business had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same quarter last year, the company earned $0.53 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLNT has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Macquarie restated a “neutral” rating and issued a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley upped their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $106.63.

About Planet Fitness

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.