Baird Financial Group Inc. Has $899,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Baird Financial Group Inc. increased its position in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 36.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,214 shares of the company’s stock after buying an additional 3,564 shares during the period. Baird Financial Group Inc.’s holdings in Planet Fitness were worth $899,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLNT. Daiwa Securities Group Inc. bought a new stake in shares of Planet Fitness during the 1st quarter worth $754,000. National Asset Management Inc. bought a new stake in shares of Planet Fitness during the 1st quarter worth $408,000. Calamos Advisors LLC boosted its holdings in shares of Planet Fitness by 124.3% during the 1st quarter. Calamos Advisors LLC now owns 37,064 shares of the company’s stock worth $3,131,000 after buying an additional 20,541 shares during the period. Sandy Spring Bank bought a new stake in shares of Planet Fitness during the 1st quarter worth $84,000. Finally, Arizona State Retirement System boosted its holdings in shares of Planet Fitness by 0.6% during the 1st quarter. Arizona State Retirement System now owns 22,529 shares of the company’s stock worth $1,903,000 after buying an additional 127 shares during the period. 95.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PLNT shares. StockNews.com started coverage on shares of Planet Fitness in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley reduced their price target on shares of Planet Fitness from $93.00 to $88.00 and set an “overweight” rating for the company in a report on Monday, November 14th. Piper Sandler raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $73.00 to $70.00 in a report on Tuesday, October 25th. Stifel Nicolaus reduced their price target on shares of Planet Fitness from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, September 8th. Finally, BMO Capital Markets increased their price target on shares of Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.23.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $74.99 on Friday. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $97.33. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 89.27, a P/E/G ratio of 1.54 and a beta of 1.25. The firm has a fifty day moving average of $63.57 and a 200-day moving average of $69.14.

Planet Fitness Profile

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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