PNC Financial Services Group Inc. Buys 931 Shares of Planet Fitness, Inc. (NYSE:PLNT)

PNC Financial Services Group Inc. increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 58.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,530 shares of the company’s stock after acquiring an additional 931 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Planet Fitness were worth $185,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLNT. Treasurer of the State of North Carolina increased its stake in shares of Planet Fitness by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after acquiring an additional 190 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Planet Fitness in the third quarter valued at $25,133,000. Kennedy Capital Management LLC increased its stake in Planet Fitness by 3.5% in the third quarter. Kennedy Capital Management LLC now owns 118,130 shares of the company’s stock valued at $5,810,000 after purchasing an additional 4,016 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Planet Fitness during the 3rd quarter worth about $979,000. Finally, Diversified Trust Co grew its stake in shares of Planet Fitness by 27.4% in the 3rd quarter. Diversified Trust Co now owns 19,597 shares of the company’s stock valued at $964,000 after buying an additional 4,220 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $70.00 in a report on Friday, May 10th. Raymond James boosted their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. 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 report on Monday, June 24th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.

Planet Fitness Trading Up 0.6 %

Shares of PLNT opened at $73.94 on Thursday. The stock has a 50 day moving average of $66.58 and a 200 day moving average of $66.59. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $75.86. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 2.47 and a beta of 1.49.

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

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.