Bessemer Group Inc. Has $35.60 Million Position in Planet Fitness, Inc. $PLNT

Bessemer Group Inc. increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 342,994 shares of the company’s stock after buying an additional 7,632 shares during the period. Bessemer Group Inc.’s holdings in Planet Fitness were worth $35,603,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its holdings in shares of Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after purchasing an additional 417 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Planet Fitness in the third quarter valued at $44,000. Institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their target price on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Guggenheim raised Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Morgan Stanley boosted their price target on Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Macquarie dropped their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $122.27.

Planet Fitness Stock Down 1.7%

Shares of NYSE PLNT opened at $90.60 on Friday. The business’s 50 day moving average price is $103.63 and its two-hundred day moving average price is $103.18. The company has a market cap of $7.55 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. Planet Fitness, Inc. has a twelve month low of $87.72 and a twelve month high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.