Northern Trust Corp grew its holdings in Planet Fitness Inc (NYSE:PLNT) by 11.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,109,938 shares of the company’s stock after buying an additional 116,840 shares during the period. Northern Trust Corp owned 1.13% of Planet Fitness worth $48,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PLNT. FMR LLC raised its position in shares of Planet Fitness by 407.9% in the second quarter. FMR LLC now owns 2,527,143 shares of the company’s stock valued at $111,043,000 after buying an additional 2,029,530 shares during the last quarter. Scopus Asset Management L.P. acquired a new stake in shares of Planet Fitness in the first quarter valued at about $33,615,000. BlackRock Inc. raised its position in shares of Planet Fitness by 10.7% in the second quarter. BlackRock Inc. now owns 6,027,451 shares of the company’s stock valued at $264,845,000 after buying an additional 581,619 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Planet Fitness in the second quarter valued at about $15,098,000. Finally, Bank of America Corp DE raised its position in shares of Planet Fitness by 49.5% in the second quarter. Bank of America Corp DE now owns 898,305 shares of the company’s stock valued at $39,471,000 after buying an additional 297,460 shares during the last quarter. Institutional investors and hedge funds own 92.40% of the company’s stock.

In other Planet Fitness news, CFO Dorvin D. Lively sold 105,127 shares of Planet Fitness stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $51.23, for a total transaction of $5,385,656.21. Following the completion of the sale, the chief financial officer now directly owns 41,874 shares in the company, valued at $2,145,205.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Rondeau sold 2,300 shares of Planet Fitness stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $50.01, for a total transaction of $115,023.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 638,272 shares of company stock valued at $32,174,956. 16.38% of the stock is owned by company insiders.

A number of brokerages have recently commented on PLNT. Piper Jaffray Companies reiterated an “overweight” rating and issued a $51.00 target price on shares of Planet Fitness in a research report on Wednesday, July 11th. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Robert W. Baird raised their price objective on shares of Planet Fitness from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, June 25th. Cowen restated a “buy” rating and set a $58.00 price objective on shares of Planet Fitness in a research report on Sunday, August 12th. Finally, DA Davidson raised their price objective on shares of Planet Fitness to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Four 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 company. The company has an average rating of “Buy” and an average price target of $50.15.

Planet Fitness stock opened at $46.42 on Friday. Planet Fitness Inc has a 12-month low of $25.55 and a 12-month high of $55.35. The stock has a market cap of $5.32 billion, a P/E ratio of 55.26, a PEG ratio of 2.48 and a beta of 0.54. The company has a quick ratio of 2.05, a current ratio of 2.08 and a debt-to-equity ratio of -7.61.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Planet Fitness had a net margin of 11.68% and a negative return on equity of 82.89%. The firm had revenue of $140.55 million during the quarter, compared to analysts’ expectations of $130.99 million. During the same period last year, the business earned $0.22 earnings per share. Planet Fitness’s revenue was up 31.0% compared to the same quarter last year. As a group, equities research analysts predict that Planet Fitness Inc will post 1.13 earnings per share for the current year.

Planet Fitness Company Profile

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

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

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