KBC Group NV Purchases 321 Shares of Planet Fitness, Inc. (NYSE:PLNT)

KBC Group NV raised its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,503 shares of the company’s stock after purchasing an additional 321 shares during the quarter. KBC Group NV’s holdings in Planet Fitness were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Planet Fitness by 60.2% in the second quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after acquiring an additional 72,131 shares during the last quarter. Point72 Asset Management L.P. increased its position in Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after purchasing an additional 829,509 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Planet Fitness during the 3rd quarter worth about $13,592,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Planet Fitness by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after purchasing an additional 483,586 shares during the period. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLNT shares. Raymond James lifted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm upped their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Macquarie restated a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.81.

Planet Fitness Stock Up 0.4 %

PLNT stock opened at $98.28 on Thursday. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 52.84, a P/E/G ratio of 3.17 and a beta of 1.49. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $98.82. The business has a 50 day moving average price of $84.26 and a two-hundred day moving average price of $76.92.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter last year, the company posted $0.59 earnings per share. Planet Fitness’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.83% of the company’s stock.

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.