SeaTown Holdings Pte. Ltd. acquired a new stake in Planet Fitness Inc (NYSE:PLNT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $6,520,000. Planet Fitness accounts for 1.2% of SeaTown Holdings Pte. Ltd.’s holdings, making the stock its 27th biggest holding. SeaTown Holdings Pte. Ltd. owned 0.10% of Planet Fitness at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Planet Fitness by 4,557.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock worth $45,000 after purchasing an additional 638 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Planet Fitness by 228.3% during the 1st quarter. Synovus Financial Corp now owns 719 shares of the company’s stock worth $49,000 after buying an additional 500 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Planet Fitness during the 1st quarter worth $73,000. Meeder Asset Management Inc. boosted its holdings in shares of Planet Fitness by 88.8% during the 1st quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock worth $74,000 after buying an additional 506 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Planet Fitness during the 2nd quarter worth $80,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Planet Fitness stock traded up $1.19 during midday trading on Tuesday, hitting $72.82. 68,060 shares of the stock were exchanged, compared to its average volume of 1,289,926. The firm has a fifty day moving average price of $75.74. Planet Fitness Inc has a 52 week low of $44.97 and a 52 week high of $81.90. The stock has a market capitalization of $6.87 billion, a PE ratio of 59.54, a PEG ratio of 2.16 and a beta of 0.59.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. Planet Fitness had a net margin of 16.29% and a negative return on equity of 47.77%. The business had revenue of $181.66 million for the quarter, compared to analyst estimates of $167.91 million. During the same quarter last year, the firm earned $0.34 EPS. Planet Fitness’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, sell-side analysts expect that Planet Fitness Inc will post 1.57 earnings per share for the current fiscal year.

Several analysts recently issued reports on PLNT shares. Robert W. Baird reaffirmed an “outperform” rating and set a $80.00 price objective (up from $75.00) on shares of Planet Fitness in a report on Monday, April 29th. Macquarie upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $85.00 in a research report on Tuesday, May 7th. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Jefferies Financial Group increased their target price on shares of Planet Fitness from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Raymond James initiated coverage on shares of Planet Fitness in a research report on Wednesday, June 26th. They set an “outperform” rating and a $80.00 target price for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.25.

About Planet Fitness

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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