JPMorgan Chase & Co. Increases Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

JPMorgan Chase & Co. increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,609,196 shares of the company’s stock after acquiring an additional 36,803 shares during the quarter. JPMorgan Chase & Co.’s holdings in Planet Fitness were worth $356,841,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its position in shares of Planet Fitness by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after purchasing an additional 94 shares in the last quarter. M&T Bank Corp raised its stake in Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares during the period. Cetera Trust Company N.A boosted its holdings in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after purchasing an additional 135 shares during the last quarter. 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 buying an additional 157 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after buying an additional 161 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

PLNT stock opened at $96.18 on Monday. The business’s 50-day moving average is $100.46 and its two-hundred day moving average is $94.82. The firm has a market capitalization of $8.14 billion, a P/E ratio of 51.71, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00.

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

Analyst Ratings Changes

A number of research firms recently commented on PLNT. Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group started coverage on Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Macquarie reduced their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.17.

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.