Mirae Asset Global Investments Co. Ltd. Has $6.39 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 268.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 75,661 shares of the company’s stock after buying an additional 55,106 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Planet Fitness were worth $6,391,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Neuberger Berman Group LLC acquired a new position in Planet Fitness during the first quarter valued at $372,000. BNP Paribas Arbitrage SA raised its position in Planet Fitness by 93.3% during the first quarter. BNP Paribas Arbitrage SA now owns 22,996 shares of the company’s stock valued at $1,943,000 after buying an additional 11,102 shares during the period. Golden State Equity Partners acquired a new position in Planet Fitness during the first quarter valued at $246,000. Virtu Financial LLC acquired a new position in Planet Fitness during the first quarter valued at $351,000. Finally, Penn Capital Management Company LLC raised its position in Planet Fitness by 0.8% during the first quarter. Penn Capital Management Company LLC now owns 156,191 shares of the company’s stock valued at $12,960,000 after buying an additional 1,236 shares during the period. 95.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLNT. Stifel Nicolaus dropped their target price on Planet Fitness from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, September 8th. Cowen dropped their target price on Planet Fitness from $110.00 to $95.00 in a research report on Wednesday, August 10th. Morgan Stanley dropped their target price on Planet Fitness from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 10th. Cowen dropped their target price on Planet Fitness from $110.00 to $95.00 in a research report on Thursday, August 11th. Finally, Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $94.38.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $60.86 on Thursday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 83.37, a P/E/G ratio of 1.18 and a beta of 1.21. The business’s 50-day simple moving average is $74.02 and its 200-day simple moving average is $75.13. Planet Fitness, Inc. has a 52 week low of $60.76 and a 52 week high of $99.60.

Planet Fitness (NYSE:PLNTGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. Planet Fitness had a negative return on equity of 24.38% and a net margin of 8.28%. The firm 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 earned $0.21 EPS. The firm’s revenue for the quarter was up 63.5% compared to the same quarter last year. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 1.53 earnings per share for the current year.

About Planet Fitness

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNTGet Rating).

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

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.