Planet Fitness, Inc. (NYSE:PLNT) Stake Boosted by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP grew its position in Planet Fitness, Inc. (NYSE:PLNT) by 73.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,935 shares of the company’s stock after purchasing an additional 22,751 shares during the period. Planet Fitness makes up approximately 1.3% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 29th biggest position. Advantage Alpha Capital Partners LP’s holdings in Planet Fitness were worth $5,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd bought a new position in shares of Planet Fitness during the 4th quarter worth about $39,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $202,000. Finally, GAMMA Investing LLC raised its stake in shares of Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after acquiring an additional 192 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT opened at $100.31 on Monday. The stock’s fifty day moving average price is $100.97 and its two-hundred day moving average price is $94.18. The firm has a market cap of $8.49 billion, a PE ratio of 53.93, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1 year low of $57.31 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Stifel Nicolaus decreased their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Piper Sandler lifted their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.