Ethic Inc. Grows Stock Holdings in Planet Fitness, Inc. $PLNT

Ethic Inc. raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 19.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,942 shares of the company’s stock after buying an additional 1,629 shares during the period. Ethic Inc.’s holdings in Planet Fitness were worth $1,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV boosted its position in shares of Planet Fitness by 13.7% during the first quarter. KBC Group NV now owns 3,503 shares of the company’s stock worth $338,000 after buying an additional 422 shares during the period. GAMMA Investing LLC boosted its position in shares of Planet Fitness by 7.4% during the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock worth $217,000 after buying an additional 155 shares during the period. Vanguard Group Inc. boosted its position in shares of Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after buying an additional 62,716 shares during the period. New York State Teachers Retirement System boosted its position in shares of Planet Fitness by 70.6% during the first quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock worth $3,246,000 after buying an additional 13,900 shares during the period. Finally, Emerald Advisers LLC purchased a new position in shares of Planet Fitness during the first quarter worth $528,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

PLNT opened at $98.47 on Monday. Planet Fitness, Inc. has a one year low of $77.79 and a one year high of $114.47. The company has a market cap of $8.29 billion, a P/E ratio of 43.76, a PEG ratio of 2.19 and a beta of 1.38. The business’s 50-day simple moving average is $101.03 and its 200-day simple moving average is $102.81.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The business had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLNT. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. UBS Group assumed coverage on Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Planet Fitness in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.50.

About Planet Fitness

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.