Nordea Investment Management AB Acquires 193 Shares of Planet Fitness, Inc. $PLNT

Nordea Investment Management AB increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,312 shares of the company’s stock after purchasing an additional 193 shares during the quarter. Nordea Investment Management AB owned approximately 0.22% of Planet Fitness worth $19,603,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. KBC Group NV increased its position in shares of Planet Fitness by 13.7% during the 1st quarter. KBC Group NV now owns 3,503 shares of the company’s stock worth $338,000 after purchasing an additional 422 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 7.4% during the 1st quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock worth $217,000 after purchasing an additional 155 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Planet Fitness by 2.3% during the 1st quarter. Bessemer Group Inc. now owns 359,755 shares of the company’s stock worth $34,756,000 after purchasing an additional 8,025 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Planet Fitness by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after purchasing an additional 62,716 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Planet Fitness by 70.6% during the 1st quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock worth $3,246,000 after purchasing an additional 13,900 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLNT shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. UBS Group assumed coverage on shares of Planet Fitness in a research report on Friday. They set a “buy” rating and a $125.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $126.00 price objective on shares of Planet Fitness in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.50.

Planet Fitness Trading Up 1.7%

PLNT opened at $94.20 on Monday. The stock has a market capitalization of $7.93 billion, a PE ratio of 41.87, a PEG ratio of 2.09 and a beta of 1.38. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47. The firm has a 50-day moving average price of $102.00 and a two-hundred day moving average price of $102.65.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.