Fortis Group Advisors LLC Takes $316,000 Position in Planet Fitness, Inc. (NYSE:PLNT)

Fortis Group Advisors LLC purchased a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,198 shares of the company's stock, valued at approximately $316,000.

Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp increased its position in shares of Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after purchasing an additional 161 shares during the last quarter. CIBC Asset Management Inc bought a new position in Planet Fitness in the 4th quarter worth approximately $255,000. Nkcfo LLC bought a new position in Planet Fitness in the 4th quarter worth approximately $1,088,000. Values First Advisors Inc. bought a new position in shares of Planet Fitness during the 4th quarter valued at approximately $227,000. Finally, Legato Capital Management LLC boosted its position in shares of Planet Fitness by 40.0% during the 4th quarter. Legato Capital Management LLC now owns 11,255 shares of the company's stock valued at $1,113,000 after acquiring an additional 3,215 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Down 2.9 %

Shares of Planet Fitness stock traded down $2.85 on Friday, reaching $96.78. 2,414,750 shares of the stock were exchanged, compared to its average volume of 1,420,984. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $110.00. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 2.47 and a beta of 1.53. The business has a 50 day moving average price of $102.88 and a two-hundred day moving average price of $91.63.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLNT. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research report on Wednesday, January 15th. Morgan Stanley raised their price target on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. DA Davidson reaffirmed a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Stifel Nicolaus raised their price objective on Planet Fitness from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Finally, Robert W. Baird raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.69.

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.