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

Premier Fund Managers Ltd increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 54.8% in the 4th quarter, HoldingsChannel reports. 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.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Planet Fitness during the 4th quarter valued at approximately $100,009,000. JPMorgan Chase & Co. grew its position in Planet Fitness by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after purchasing an additional 36,803 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Planet Fitness during the 4th quarter valued at about $203,000. Zions Bancorporation N.A. boosted its stake in shares of Planet Fitness by 21.0% in the fourth quarter. Zions Bancorporation N.A. now owns 23,266 shares of the company’s stock worth $2,300,000 after buying an additional 4,040 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP grew its holdings in Planet Fitness by 73.0% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 53,935 shares of the company’s stock worth $5,333,000 after acquiring an additional 22,751 shares during the period. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of analyst reports. Stifel Nicolaus dropped their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Roth Mkm reissued a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group started coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Trading Down 1.4 %

Shares of NYSE PLNT opened at $99.21 on Friday. The company has a fifty day moving average price of $100.63 and a 200 day moving average price of $94.53. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The firm has a market cap of $8.40 billion, a PE ratio of 53.34, 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 business 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 company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.