Renaissance Technologies LLC bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 121,000 shares of the company's stock, valued at approximately $11,963,000. Renaissance Technologies LLC owned about 0.14% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Planet Fitness by 199.7% in the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after purchasing an additional 321,644 shares during the last quarter. FMR LLC grew its stake in Planet Fitness by 24.4% in the 4th quarter. FMR LLC now owns 989,642 shares of the company's stock worth $97,846,000 after acquiring an additional 194,157 shares in the last quarter. 2Xideas AG purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $6,145,000. Wells Fargo & Company MN raised its stake in shares of Planet Fitness by 111.4% during the fourth quarter. Wells Fargo & Company MN now owns 183,784 shares of the company's stock valued at $18,171,000 after acquiring an additional 96,841 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in shares of Planet Fitness by 211.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 44,330 shares of the company's stock valued at $4,383,000 after purchasing an additional 30,091 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Price Performance
NYSE:PLNT traded down $0.57 during mid-day trading on Friday, reaching $93.91. The company's stock had a trading volume of 1,037,277 shares, compared to its average volume of 1,436,545. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00. The company's fifty day simple moving average is $96.46 and its two-hundred day simple moving average is $96.02. The stock has a market cap of $7.95 billion, a P/E ratio of 50.49, a P/E/G ratio of 2.45 and a beta of 1.39.
Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million for 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%. The company's revenue was up 19.4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. upped their price objective 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Piper Sandler upped 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. Stifel Nicolaus decreased their price objective 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, DA Davidson reaffirmed a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness has an average rating of "Moderate Buy" and an average price target of $101.72.
Read Our Latest Stock Analysis on Planet Fitness
About Planet Fitness
(
Free Report)
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.
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