Meiji Yasuda Asset Management Co Ltd. Buys New Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,054 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLNT. Zions Bancorporation N.A. raised its stake in shares of Planet Fitness by 21.0% during the fourth quarter. Zions Bancorporation N.A. now owns 23,266 shares of the company’s stock valued at $2,300,000 after acquiring an additional 4,040 shares during the last quarter. Advantage Alpha Capital Partners LP increased its holdings in Planet Fitness by 73.0% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 53,935 shares of the company’s stock valued at $5,333,000 after purchasing an additional 22,751 shares during the period. Vanguard Group Inc. raised its position in Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock valued at $794,496,000 after purchasing an additional 39,928 shares during the last quarter. LPL Financial LLC lifted its holdings in Planet Fitness by 12.1% in the 4th quarter. LPL Financial LLC now owns 44,662 shares of the company’s stock worth $4,546,000 after buying an additional 4,829 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Planet Fitness in the 4th quarter worth approximately $215,000. Institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. 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 report on Friday, February 28th. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 target price on the stock. Piper Sandler increased their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Five research 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 stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Stock Performance

NYSE:PLNT opened at $96.18 on Friday. The firm has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $94.63. The firm has a market cap 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 fifty-two week low of $57.64 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.23% and a negative return on equity of 107.97%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, equities research analysts predict 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.