BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Position in Planet Fitness, Inc. (NYSE:PLNT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,946 shares of the company’s stock after purchasing an additional 2,250 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.15% of Planet Fitness worth $9,415,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. LRI Investments LLC grew its stake in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after buying an additional 174 shares in the last quarter. Amalgamated Bank grew its stake in Planet Fitness by 0.3% in the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock valued at $4,203,000 after buying an additional 179 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Planet Fitness by 2.8% in the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after buying an additional 182 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in 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 buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Robert W. Baird reissued an “outperform” rating and issued a $92.00 price target on shares of Planet Fitness in a report on Monday, August 26th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. Raymond James raised their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada raised their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.07.

Planet Fitness Stock Performance

NYSE PLNT opened at $81.21 on Friday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $82.82. The company has a market capitalization of $7.16 billion, a P/E ratio of 46.67, a P/E/G ratio of 2.65 and a beta of 1.49. The company has a fifty day moving average of $76.34 and a 200-day moving average of $68.11.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, analysts forecast that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.

Planet Fitness 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.