ExodusPoint Capital Management LP Purchases 30,091 Shares of Planet Fitness, Inc. (NYSE:PLNT)

ExodusPoint Capital Management LP increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 211.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,330 shares of the company's stock after acquiring an additional 30,091 shares during the quarter. ExodusPoint Capital Management LP owned about 0.05% of Planet Fitness worth $4,383,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. 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 worth $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd bought a new stake in shares of Planet Fitness during the 4th quarter worth about $39,000. Skandinaviska Enskilda Banken AB publ grew its stake in 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 buying an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC bought a new position in Planet Fitness in the 4th quarter valued at about $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Planet Fitness during the fourth quarter worth approximately $203,000. Institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Piper Sandler increased their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Macquarie lowered their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus cut their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a report on Friday, February 28th. Five equities research 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.com, Planet Fitness has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Price Performance

Shares of PLNT stock traded up $3.52 on Friday, hitting $97.58. 1,495,232 shares of the company's stock were exchanged, compared to its average volume of 1,456,242. The company has a 50 day moving average of $97.60 and a 200 day moving average of $95.64. The stock has a market cap of $8.26 billion, a P/E ratio of 52.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $57.64 and a 12 month high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 19.4% on a year-over-year basis. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal 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.