2Xideas AG Invests $6.15 Million in Planet Fitness, Inc. (NYSE:PLNT)

2Xideas AG acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,156 shares of the company's stock, valued at approximately $6,145,000. 2Xideas AG owned approximately 0.07% of Planet Fitness as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after buying an additional 16,503 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Planet Fitness in the fourth quarter valued at about $3,378,000. AMJ Financial Wealth Management acquired a new position in Planet Fitness during the fourth quarter worth about $495,000. State Street Corp lifted its holdings in shares of 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 acquiring an additional 37,236 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $1,088,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Performance

Shares of PLNT stock traded up $3.38 during mid-day trading on Friday, hitting $97.44. The company's stock had a trading volume of 617,198 shares, compared to its average volume of 1,452,899. The company has a market cap of $8.25 billion, a PE ratio of 52.23, a P/E/G ratio of 2.45 and a beta of 1.39. The company's fifty day simple moving average is $97.79 and its 200-day simple moving average is $95.54. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00.

Remove Ads

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The business 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%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Roth Mkm reiterated a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Piper Sandler increased their price target on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Macquarie lowered their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

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.