Baker Tilly Wealth Management LLC bought a new position in shares of Planet Fitness, Inc. (NYSE: PLNT – Free Report ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,492 shares of the company’s stock, valued at approximately $401,000.
Several other hedge funds have also recently bought and sold stakes in the business. Diversified Trust Co boosted its stake in shares of Planet Fitness by 3.4% in the fourth quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock valued at $1,479,000 after purchasing an additional 659 shares in the last quarter. Teacher Retirement System of The State of Kentucky boosted its holdings in Planet Fitness by 93.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,029 shares of the company’s stock valued at $1,428,000 after acquiring an additional 14,029 shares during the period. American Century Companies Inc. increased its position in Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after acquiring an additional 351,401 shares during the last quarter. Graham Capital Management LP purchased a new stake in shares of Planet Fitness during the third quarter valued at approximately $944,000. Finally, Comerica Bank raised its position in shares of Planet Fitness by 472.9% during the third quarter. Comerica Bank now owns 34,733 shares of the company’s stock valued at $1,708,000 after buying an additional 28,670 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s shares.
The Wall Street analyst weighs in
PLNT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Piper Sandler boosted their price objective on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. Royal Bank of Canada boosted their price objective on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Morgan Stanley reduced their target price on Planet Fitness from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, DA Davidson reiterated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.00, according to MarketBeat.com.
Check out our latest PLNT stock report
Planet Fitness Trading up 3.4%
NYSE:PLNT opened at $58.86 on Friday. The firm has a market cap of $5.19 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.40. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $84.48. The stock has a 50-day moving average of $66.68 and a 200-day moving average of $62.89.
Planet Fitness (NYSE:PLNT – Get Your Free Report ) last announced its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. Planet Fitness’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business reported $0.53 earnings per share. As a group, analysts predict that Planet Fitness, Inc. will post 2.49 EPS for the current fiscal year.
Planet Fitness Company Profile
(Free Report)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates in three segments: Franchising, Corporate Stores and Equipment. The Franchise segment engages in franchise businesses in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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