Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,035,765 shares of the company’s stock after purchasing an additional 39,928 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Planet Fitness worth $794,496,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its stake in 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 buying an additional 157 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $39,000. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new stake in Planet Fitness during the 4th quarter worth about $202,000. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 192 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLNT. DA Davidson reiterated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Macquarie lowered their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus reduced 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. Piper Sandler raised their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped 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. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Down 3.0 %

Planet Fitness stock opened at $96.18 on Friday. The firm has a fifty day moving average of $100.46 and a 200-day moving average of $94.73. Planet Fitness, Inc. has a 52-week low of $57.64 and a 52-week high of $110.00. The firm has a market capitalization of $8.14 billion, a P/E ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54.

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

Planet Fitness Company 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.