Blair William & Co. IL Raises Stock Holdings in Planet Fitness, Inc. $PLNT

Blair William & Co. IL raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 24.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 157,891 shares of the company’s stock after purchasing an additional 31,038 shares during the period. Blair William & Co. IL’s holdings in Planet Fitness were worth $17,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Game Plan Financial Advisors LLC bought a new position in shares of Planet Fitness in the 2nd quarter worth about $25,000. Vontobel Holding Ltd. bought a new position in shares of Planet Fitness during the second quarter valued at approximately $626,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Planet Fitness by 10.9% during the second quarter. KLP Kapitalforvaltning AS now owns 19,400 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,900 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Planet Fitness in the 2nd quarter worth approximately $483,000. Finally, Ninety One SA PTY Ltd boosted its position in shares of Planet Fitness by 7.9% in the 2nd quarter. Ninety One SA PTY Ltd now owns 45,118 shares of the company’s stock worth $4,913,000 after purchasing an additional 3,300 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of a number of recent research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a research report on Monday, September 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.54.

Planet Fitness Stock Performance

NYSE PLNT opened at $93.65 on Friday. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47. The stock has a 50-day moving average of $103.40 and a 200 day moving average of $102.73. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.10 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. During the same quarter last year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.