Allworth Financial LP Acquires 255 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Allworth Financial LP lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 247.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358 shares of the company’s stock after purchasing an additional 255 shares during the period. Allworth Financial LP’s holdings in Planet Fitness were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the period. Cadian Capital Management LP raised its stake in Planet Fitness by 164.7% in the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after acquiring an additional 2,516,007 shares during the period. Bank of New York Mellon Corp raised its stake in Planet Fitness by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company’s stock valued at $130,812,000 after acquiring an additional 12,139 shares during the period. State Street Corp raised its stake in Planet Fitness by 78.4% in the 2nd quarter. State Street Corp now owns 2,295,657 shares of the company’s stock valued at $154,819,000 after acquiring an additional 1,008,875 shares during the period. Finally, Bares Capital Management Inc. raised its stake in Planet Fitness by 2.4% in the 4th quarter. Bares Capital Management Inc. now owns 2,063,152 shares of the company’s stock valued at $162,576,000 after acquiring an additional 48,955 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research note on Monday, February 5th. 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 reiterated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Piper Sandler upped their price target on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. decreased their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $71.00.

Planet Fitness Trading Down 2.1 %

Shares of NYSE PLNT opened at $61.29 on Monday. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 1.23 and a beta of 1.39. The business has a 50-day moving average of $63.70 and a 200-day moving average of $64.06.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Planet Fitness’s revenue was up 1.4% on a year-over-year basis. On average, analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current 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.