Bessemer Group Inc. Increases Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Bessemer Group Inc. lifted its position in Planet Fitness, Inc. (NYSE:PLNT) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,877 shares of the company’s stock after purchasing an additional 45,623 shares during the quarter. Bessemer Group Inc. owned approximately 0.26% of Planet Fitness worth $14,335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Planet Fitness in the first quarter worth $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the fourth quarter valued at $47,000. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 0.9 %

NYSE:PLNT traded down $0.69 during trading hours on Thursday, hitting $74.71. The stock had a trading volume of 217,233 shares, compared to its average volume of 1,649,338. The business has a 50 day simple moving average of $70.48 and a two-hundred day simple moving average of $66.87. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $79.09. The company has a market cap of $6.59 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 2.57 and a beta of 1.49.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PLNT. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Raymond James upped their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Royal Bank of Canada dropped their price objective on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Company 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.