379,898 Shares in Planet Fitness, Inc. $PLNT Acquired by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd purchased a new position in Planet Fitness, Inc. (NYSE:PLNT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 379,898 shares of the company’s stock, valued at approximately $41,428,000. AustralianSuper Pty Ltd owned 0.45% of Planet Fitness at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness in the 2nd quarter worth approximately $25,000. Brooklyn Investment Group increased its holdings in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after buying an additional 118 shares during the period. First Horizon Advisors Inc. increased its holdings in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock worth $36,000 after buying an additional 242 shares during the period. New Age Alpha Advisors LLC acquired a new position in Planet Fitness in the 1st quarter worth approximately $65,000. Finally, Farther Finance Advisors LLC increased its holdings in Planet Fitness by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock worth $84,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PLNT shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. UBS Group started coverage on shares of Planet Fitness in a research note on Friday, October 17th. They set a “buy” rating and a $125.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research note on Saturday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Planet Fitness Stock Performance

Planet Fitness stock opened at $98.47 on Monday. The company’s fifty day moving average price is $101.03 and its 200 day moving average price is $102.81. Planet Fitness, Inc. has a 1 year low of $77.79 and a 1 year high of $114.47. The stock has a market capitalization of $8.29 billion, a P/E ratio of 43.76, a P/E/G ratio of 2.19 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million for the quarter, compared to analysts’ expectations of $329.59 million. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS 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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.