AGF Management Ltd. Acquires 60,000 Shares of Planet Fitness, Inc. (NYSE:PLNT)

AGF Management Ltd. raised its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 58.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,000 shares of the company’s stock after acquiring an additional 60,000 shares during the quarter. AGF Management Ltd. owned approximately 0.18% of Planet Fitness worth $10,993,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after purchasing an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Planet Fitness by 801.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Planet Fitness during the 1st quarter valued at $357,000. BlackRock Inc. lifted its holdings in Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Planet Fitness during the 1st quarter valued at $919,000. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLNT has been the subject of a number of research reports. Bank of America dropped their target price on Planet Fitness from $95.00 to $80.00 and set a “buy” rating for the company in a report on Friday, August 4th. TD Cowen downgraded Planet Fitness from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $72.00 to $55.00 in a report on Friday, September 15th. Raymond James lifted their target price on Planet Fitness from $66.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 8th. Jefferies Financial Group downgraded Planet Fitness from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $56.00 in a report on Monday, September 18th. Finally, Robert W. Baird dropped their target price on Planet Fitness from $87.00 to $65.00 in a report on Monday, September 18th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $69.18.

Planet Fitness Stock Up 2.1 %

Planet Fitness stock opened at $65.17 on Wednesday. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $85.90. The business’s 50-day moving average price is $53.43 and its two-hundred day moving average price is $61.82. The stock has a market cap of $5.74 billion, a PE ratio of 40.48, a P/E/G ratio of 1.44 and a beta of 1.32.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Planet Fitness had a negative return on equity of 102.85% and a net margin of 12.80%. The firm had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $268.18 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that Planet Fitness, Inc. will post 2.21 earnings per share for the current 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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.