Sterling Capital Management LLC Has $300,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Sterling Capital Management LLC increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,035 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Sterling Capital Management LLC’s holdings in Planet Fitness were worth $300,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PLNT. Corient Private Wealth LLC lifted its position in Planet Fitness by 2.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock valued at $457,000 after purchasing an additional 94 shares during the period. Cetera Trust Company N.A raised its stake in shares of Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the period. Truist Financial Corp boosted its stake in Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after acquiring an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $93.91 on Monday. The stock has a market capitalization of $7.95 billion, a P/E ratio of 50.49, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a fifty-two week low of $58.23 and a fifty-two week high of $110.00. The business has a 50-day moving average of $96.46 and a 200-day moving average of $96.20.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 19.4% on a year-over-year basis. Equities analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

PLNT has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Guggenheim raised their target price on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Piper Sandler boosted their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. DA Davidson reiterated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

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.