Dimensional Fund Advisors LP Raises Position in Planet Fitness, Inc. (NYSE:PLNT)

Dimensional Fund Advisors LP raised its stake in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 663,807 shares of the company’s stock after purchasing an additional 88,520 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Planet Fitness were worth $38,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sandy Spring Bank increased its position in shares of Planet Fitness by 25.0% during the third quarter. Sandy Spring Bank now owns 2,500 shares of the company’s stock valued at $144,000 after acquiring an additional 500 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Planet Fitness by 14.5% during the second quarter. Eagle Asset Management Inc. now owns 1,149,179 shares of the company’s stock valued at $78,155,000 after acquiring an additional 145,821 shares during the last quarter. Teca Partners LP purchased a new stake in shares of Planet Fitness during the second quarter valued at approximately $1,306,000. FMR LLC increased its position in shares of Planet Fitness by 9.0% during the second quarter. FMR LLC now owns 1,653,529 shares of the company’s stock valued at $112,457,000 after acquiring an additional 136,191 shares during the last quarter. Finally, Davidson Kempner Capital Management LP increased its position in shares of Planet Fitness by 84.9% during the second quarter. Davidson Kempner Capital Management LP now owns 266,579 shares of the company’s stock valued at $18,130,000 after acquiring an additional 122,374 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PLNT shares. Cowen increased their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 16th. Stifel Nicolaus increased their price objective on Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. BMO Capital Markets increased their price objective on Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Morgan Stanley increased their price objective on Planet Fitness from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Monday. Finally, Piper Sandler increased their price objective on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, December 22nd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.69.

Planet Fitness Stock Performance

NYSE:PLNT opened at $79.80 on Thursday. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 68.21, a P/E/G ratio of 1.50 and a beta of 1.26. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $88.31. The stock has a fifty day moving average of $80.95 and a 200 day moving average of $72.98.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. The company had revenue of $281.30 million during the quarter, compared to analyst estimates of $271.48 million. Planet Fitness had a negative return on equity of 64.13% and a net margin of 10.61%. The firm’s quarterly revenue was up 53.2% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. Equities analysts forecast that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.

About Planet Fitness

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Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.