Meiji Yasuda Asset Management Co Ltd. Makes New $203,000 Investment in Planet Fitness, Inc. (NYSE:PLNT)

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,054 shares of the company’s stock, valued at approximately $203,000.

Several other large investors also recently modified their holdings of PLNT. Ninety One UK Ltd purchased a new position in Planet Fitness in the fourth quarter valued at approximately $130,376,000. FMR LLC lifted its position in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Planet Fitness during the 4th quarter worth $22,289,000. Artemis Investment Management LLP purchased a new stake in Planet Fitness in the 4th quarter worth about $18,767,000. Finally, American Century Companies Inc. raised its stake in Planet Fitness by 36.4% in the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company’s stock valued at $54,049,000 after acquiring an additional 145,799 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a research note on Thursday, February 27th. DA Davidson reiterated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Macquarie cut their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $100.17.

Planet Fitness Stock Down 3.0 %

Shares of PLNT stock opened at $96.18 on Friday. The firm has a market cap of $8.14 billion, a P/E ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business has a 50-day moving average price of $100.46 and a two-hundred day moving average price of $94.63. Planet Fitness, Inc. has a 12-month low of $57.64 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Planet Fitness’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

About Planet Fitness

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.