Legato Capital Management LLC Increases Stake in Planet Fitness, Inc. (NYSE:PLNT)

Legato Capital Management LLC lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 40.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,255 shares of the company's stock after acquiring an additional 3,215 shares during the period. Legato Capital Management LLC's holdings in Planet Fitness were worth $1,113,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after purchasing an additional 37,236 shares during the period. Ninety One UK Ltd purchased a new position in Planet Fitness in the 4th quarter worth $130,376,000. FMR LLC raised its position in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after purchasing an additional 691,761 shares during the period. WCM Investment Management LLC purchased a new position in Planet Fitness in the 4th quarter worth $22,289,000. Finally, Artemis Investment Management LLP purchased a new position in Planet Fitness in the 4th quarter worth $18,767,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Down 2.7 %

Shares of PLNT traded down $2.79 during trading hours on Friday, reaching $101.07. 1,257,814 shares of the company traded hands, compared to its average volume of 1,427,913. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00. The company's fifty day moving average price is $102.88 and its two-hundred day moving average price is $91.00. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 2.68 and a beta of 1.53.

Analysts Set New Price Targets

PLNT has been the topic of a number of analyst reports. DA Davidson reiterated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Macquarie restated a "neutral" rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Morgan Stanley boosted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.69.

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.