Diversified Trust Co Has $565,000 Stake in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 11.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,301 shares of the company’s stock after buying an additional 872 shares during the quarter. Diversified Trust Co’s holdings in Planet Fitness were worth $565,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings in Planet Fitness by 35.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 11,894 shares of the company’s stock valued at $1,077,000 after buying an additional 3,092 shares during the period. Rhumbline Advisers boosted its position in shares of Planet Fitness by 2.7% during the 4th quarter. Rhumbline Advisers now owns 80,461 shares of the company’s stock valued at $7,288,000 after purchasing an additional 2,079 shares in the last quarter. Bank of Montreal Can increased its holdings in Planet Fitness by 1,696.7% in the fourth quarter. Bank of Montreal Can now owns 74,654 shares of the company’s stock worth $6,885,000 after purchasing an additional 70,499 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in Planet Fitness in the fourth quarter valued at approximately $2,094,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Planet Fitness by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 720,092 shares of the company’s stock valued at $65,226,000 after buying an additional 24,955 shares during the period. Institutional investors own 95.15% of the company’s stock.

Planet Fitness Trading Down 3.4 %

NYSE PLNT opened at $60.86 on Thursday. The business has a fifty day simple moving average of $74.02 and a 200 day simple moving average of $75.13. Planet Fitness, Inc. has a 12 month low of $60.76 and a 12 month high of $99.60. The firm has a market capitalization of $5.54 billion, a P/E ratio of 83.37, a PEG ratio of 1.18 and a beta of 1.21.

Planet Fitness (NYSE:PLNTGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Planet Fitness had a net margin of 8.28% and a negative return on equity of 24.38%. The company had revenue of $224.40 million during the quarter, compared to the consensus estimate of $230.13 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 63.5% on a year-over-year basis. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 1.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLNT. Exane BNP Paribas upgraded shares of Planet Fitness from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 7th. Morgan Stanley decreased their price target on shares of Planet Fitness from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. Cowen cut their price objective on shares of Planet Fitness from $110.00 to $95.00 in a research report on Wednesday, August 10th. BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 target price for the company in a research report on Thursday, July 7th. Finally, Cowen cut their price target on Planet Fitness from $110.00 to $95.00 in a report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.38.

Planet Fitness Profile

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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

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

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