Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 71.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,429 shares of the company’s stock after purchasing an additional 1,853 shares during the quarter. Fulton Bank N.A.’s holdings in Planet Fitness were worth $438,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in shares of Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after purchasing an additional 124 shares during the period. Verdence Capital Advisors LLC lifted its stake in Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after buying an additional 132 shares during the last quarter. Creative Planning boosted its holdings in shares of Planet Fitness by 2.1% in the third quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after acquiring an additional 192 shares during the period. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 10.1% in the 4th 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 period. Finally, V Square Quantitative Management LLC raised its position in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Macquarie reissued a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Morgan Stanley boosted their price target on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Robert W. Baird upped their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Raymond James lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.13.

Planet Fitness Price Performance

PLNT opened at $101.61 on Friday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.90. The stock has a market cap of $8.60 billion, a P/E ratio of 54.63, a P/E/G ratio of 3.33 and a beta of 1.52. The stock’s 50 day simple moving average is $97.74 and its 200 day simple moving average is $85.28.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Research analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.94% of the stock is currently owned by company insiders.

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.