ING Groep NV Purchases New Stake in Planet Fitness, Inc. (NYSE:PLNT)

ING Groep NV purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,300 shares of the company’s stock, valued at approximately $1,568,000.

Several other hedge funds have also recently bought and sold shares of PLNT. William Blair Investment Management LLC purchased a new position in Planet Fitness in the second quarter valued at approximately $166,978,000. Anomaly Capital Management LP purchased a new position in Planet Fitness in the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. raised its holdings 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 valued at $96,985,000 after buying an additional 829,509 shares during the period. Steadfast Capital Management LP raised its holdings in Planet Fitness by 97.7% in the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock valued at $86,546,000 after buying an additional 682,863 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after buying an additional 483,586 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

PLNT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Macquarie reiterated a “neutral” rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada lifted their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Roth Mkm lifted their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $91.81.

Planet Fitness Price Performance

Planet Fitness stock opened at $95.27 on Monday. The company has a market cap of $8.11 billion, a PE ratio of 51.22, a P/E/G ratio of 3.17 and a beta of 1.49. The company has a fifty day moving average price of $83.25 and a two-hundred day moving average price of $76.24. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $98.59.

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

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.