International Assets Investment Management LLC Acquires 5,248 Shares of Planet Fitness, Inc. (NYSE:PLNT)

International Assets Investment Management LLC grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 886.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,840 shares of the company’s stock after acquiring an additional 5,248 shares during the quarter. International Assets Investment Management LLC’s holdings in Planet Fitness were worth $426,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Planet Fitness by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after acquiring an additional 190 shares during the last quarter. Covestor Ltd boosted its position in shares of Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 238 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Planet Fitness by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 24,190 shares of the company’s stock valued at $1,190,000 after acquiring an additional 259 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in Planet Fitness by 1.5% in the 4th quarter. State of Michigan Retirement System now owns 20,500 shares of the company’s stock worth $1,496,000 after buying an additional 300 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $59.88 on Friday. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $84.48. The stock has a market capitalization of $5.28 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. The business’s 50 day simple moving average is $62.30 and its two-hundred day simple moving average is $64.64.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus dropped their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Piper Sandler boosted their target price on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. dropped their target price on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. DA Davidson restated a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. Finally, StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $71.00.

Planet Fitness Profile

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.