Wellington Management Group LLP Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Wellington Management Group LLP acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 270,537 shares of the company’s stock, valued at approximately $19,749,000. Wellington Management Group LLP owned 0.31% of Planet Fitness at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in shares of Planet Fitness in the 4th quarter valued at $47,000. Asset Management One Co. Ltd. increased its stake in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Planet Fitness by 169.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after purchasing an additional 743 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Up 0.5 %

Shares of PLNT opened at $73.36 on Wednesday. The company has a market capitalization of $6.47 billion, a PE ratio of 42.16, a PEG ratio of 2.44 and a beta of 1.43. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $75.86. The stock’s 50-day moving average price is $64.91 and its two-hundred day moving average price is $66.41.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Royal Bank of Canada decreased their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. DA Davidson reissued a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the company from $80.00 to $70.00 in a report on Friday, May 10th. Finally, StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.64.

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.