Quantbot Technologies LP Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Quantbot Technologies LP bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 52,425 shares of the company’s stock, valued at approximately $5,183,000.

A number of other large investors have also recently modified their holdings of PLNT. Tidal Investments LLC lifted its position in Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after acquiring an additional 16,503 shares during the period. AMJ Financial Wealth Management purchased a new position in Planet Fitness in the fourth quarter worth about $495,000. State Street Corp raised its holdings in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares during the last quarter. Nkcfo LLC purchased a new position in Planet Fitness in the fourth quarter worth about $1,088,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the third quarter worth about $604,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 2.5 %

Shares of Planet Fitness stock opened at $95.56 on Friday. The firm has a market capitalization of $8.09 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.45 and a beta of 1.54. The firm’s 50 day moving average is $101.16 and its two-hundred day moving average is $93.24. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The company 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%. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. As a group, research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target 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. Macquarie reduced their price target 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 shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Guggenheim reiterated a “buy” rating and issued a $105.00 price target on shares of Planet Fitness in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.