Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,662 shares of the company's stock after acquiring an additional 4,829 shares during the period. LPL Financial LLC owned approximately 0.05% of Planet Fitness worth $4,546,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ninety One UK Ltd purchased a new position in Planet Fitness in the 4th quarter worth approximately $130,376,000. WCM Investment Management LLC acquired a new position in shares of Planet Fitness during the fourth quarter worth $22,289,000. Artemis Investment Management LLP acquired a new position in shares of Planet Fitness during the fourth quarter worth $18,767,000. American Century Companies Inc. boosted its stake in shares of Planet Fitness by 36.4% in the fourth quarter. American Century Companies Inc. now owns 546,664 shares of the company's stock valued at $54,049,000 after purchasing an additional 145,799 shares during the period. Finally, Monimus Capital Management LP acquired a new stake in Planet Fitness during the 4th quarter valued at $6,698,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded down $0.90 during midday trading on Tuesday, hitting $96.69. The company's stock had a trading volume of 59,141 shares, compared to its average volume of 1,550,922. The firm's fifty day moving average price is $97.41 and its 200-day moving average price is $95.85. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The firm has a market cap of $8.19 billion, a P/E ratio of 51.98, a P/E/G ratio of 2.45 and a beta of 1.39.

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Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on PLNT shares. Piper Sandler boosted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Canaccord Genuity Group assumed coverage on Planet Fitness in a report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Stifel Nicolaus dropped their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, February 28th. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Guggenheim raised their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus price target of $101.72.

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.