Dimensional Fund Advisors LP Acquires 133,541 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Dimensional Fund Advisors LP raised its holdings in Planet Fitness, Inc. (NYSE:PLNTFree Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 897,910 shares of the company’s stock after acquiring an additional 133,541 shares during the period. Dimensional Fund Advisors LP owned about 1.02% of Planet Fitness worth $65,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Planet Fitness during the fourth quarter valued at about $47,000. Asset Management One Co. Ltd. boosted its stake in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PLNT shares. Raymond James lifted their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $78.00 in a research note on Tuesday, May 14th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.86.

View Our Latest Stock Analysis on Planet Fitness

Planet Fitness Stock Performance

Shares of PLNT stock opened at $63.54 on Monday. The company has a market cap of $5.60 billion, a P/E ratio of 36.52, a PEG ratio of 2.13 and a beta of 1.37. The stock has a 50 day simple moving average of $61.84 and a two-hundred day simple moving average of $66.04. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $75.86.

Planet Fitness (NYSE:PLNTGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Planet Fitness Company Profile

(Free Report)

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.

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

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