Morgan Stanley Buys 72,985 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Morgan Stanley increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 45.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,130 shares of the company’s stock after buying an additional 72,985 shares during the period. Morgan Stanley’s holdings in Planet Fitness were worth $4,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLNT. Alliancebernstein L.P. increased its position in shares of Planet Fitness by 11.1% in the first quarter. Alliancebernstein L.P. now owns 5,948,306 shares of the company’s stock valued at $114,624,000 after buying an additional 593,265 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Planet Fitness by 40.6% in the first quarter. Vanguard Group Inc. now owns 4,977,283 shares of the company’s stock valued at $95,913,000 after buying an additional 1,436,427 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock valued at $94,002,000 after buying an additional 3,381,810 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Planet Fitness by 12.0% in the first quarter. Eagle Asset Management Inc. now owns 3,176,688 shares of the company’s stock valued at $61,214,000 after buying an additional 340,455 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Planet Fitness by 100.8% in the first quarter. Jennison Associates LLC now owns 2,653,219 shares of the company’s stock valued at $51,128,000 after buying an additional 1,331,660 shares during the last quarter. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Planet Fitness, Inc. (NYSE:PLNT) traded down 2.31% on Friday, hitting $24.55. The stock had a trading volume of 2,401,579 shares. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.19. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 42.33 and a beta of 0.90. The firm has a 50 day moving average of $23.23 and a 200-day moving average of $21.34.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $107.31 million for the quarter, compared to analysts’ expectations of $101.99 million. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. Planet Fitness’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Equities analysts predict that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.

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Several research analysts have commented on PLNT shares. BidaskClub raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital set a $23.00 target price on Planet Fitness and gave the stock a “buy” rating in a report on Thursday. Cowen and Company reissued an “outperform” rating and issued a $28.00 price objective (up from $23.00) on shares of Planet Fitness in a research note on Thursday. Finally, Jefferies Group LLC boosted their price objective on Planet Fitness from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.20.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.

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

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