Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Diversified Trust Co

Diversified Trust Co grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,564 shares of the company’s stock after buying an additional 308 shares during the quarter. Diversified Trust Co’s holdings in Planet Fitness were worth $1,288,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLNT. Vanguard Group Inc. raised its position in shares of Planet Fitness by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock worth $589,606,000 after acquiring an additional 196,809 shares during the period. Cadian Capital Management LP increased its stake in shares of Planet Fitness by 9.6% in the 4th quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock valued at $323,417,000 after purchasing an additional 386,861 shares in the last quarter. Dorsal Capital Management LP acquired a new position in Planet Fitness in the 4th quarter worth about $182,500,000. Point72 Asset Management L.P. boosted its position in Planet Fitness by 39.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,837,231 shares of the company’s stock worth $134,118,000 after purchasing an additional 516,790 shares in the last quarter. Finally, Greenvale Capital LLP grew its holdings in Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock valued at $127,103,000 after purchasing an additional 1,296,140 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 2.0 %

Shares of PLNT opened at $72.15 on Tuesday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $75.86. The stock has a fifty day simple moving average of $66.06 and a two-hundred day simple moving average of $66.51. The company has a market capitalization of $6.36 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 2.47 and a beta of 1.49.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Royal Bank of Canada dropped their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $100.00 in a research report on Monday, June 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Four 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 stock has a consensus rating of “Moderate Buy” and an average 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.