Harvest Fund Management Co. Ltd Buys Shares of 8,532 Planet Fitness, Inc. (NYSE:PLNT)

Harvest Fund Management Co. Ltd acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,532 shares of the company's stock, valued at approximately $843,000.

Several other hedge funds also recently modified their holdings of PLNT. UMB Bank n.a. boosted its position in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd bought a new stake in shares of Planet Fitness during the 4th quarter worth approximately $39,000. Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after buying an additional 490 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Planet Fitness during the third quarter worth $200,000. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

PLNT has been the subject of a number of analyst reports. Guggenheim reissued a "buy" rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Roth Mkm reissued a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price target 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. Macquarie decreased their target price on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 target price for the company. Five equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.17.

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Planet Fitness Stock Performance

Shares of Planet Fitness stock traded down $2.33 on Tuesday, hitting $99.83. The stock had a trading volume of 834,498 shares, compared to its average volume of 1,438,375. The stock has a 50 day moving average of $100.98 and a 200 day moving average of $94.32. The firm has a market capitalization of $8.45 billion, a P/E ratio of 53.67, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a twelve month low of $57.31 and a twelve month high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million during 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%. The company's revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share 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.