Premier Fund Managers Ltd Buys 5,270 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Premier Fund Managers Ltd boosted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 54.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,893 shares of the company’s stock after acquiring an additional 5,270 shares during the period. Premier Fund Managers Ltd’s holdings in Planet Fitness were worth $1,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PLNT. UMB Bank n.a. grew its stake in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd bought a new position in Planet Fitness in the fourth quarter valued at about $39,000. Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth approximately $51,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Planet Fitness in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.4 %

Shares of PLNT opened at $99.21 on Friday. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00. The business’s 50 day moving average price is $100.63 and its 200-day moving average price is $94.53. The stock has a market cap of $8.40 billion, a P/E ratio of 53.34, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PLNT. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Piper Sandler upped their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Canaccord Genuity Group initiated coverage on Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Finally, DA Davidson restated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.17.

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.