Walter Public Investments Inc. Increases Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Walter Public Investments Inc. lifted its position in Planet Fitness, Inc. (NYSE:PLNT) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,673 shares of the company’s stock after buying an additional 964 shares during the quarter. Planet Fitness makes up approximately 2.9% of Walter Public Investments Inc.’s portfolio, making the stock its 19th biggest holding. Walter Public Investments Inc.’s holdings in Planet Fitness were worth $16,182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Concurrent Investment Advisors LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $227,000. Fortis Group Advisors LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $316,000. Truist Financial Corp increased its position in shares of Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after purchasing an additional 161 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $255,000. Finally, Nkcfo LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $1,088,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $90.52 on Thursday. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 2.45 and a beta of 1.53. The company’s 50 day moving average price is $102.44 and its 200-day moving average price is $92.24.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Raymond James upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.38.

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.