Monimus Capital Management LP Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Monimus Capital Management LP acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 67,745 shares of the company's stock, valued at approximately $6,698,000. Planet Fitness accounts for 6.3% of Monimus Capital Management LP's investment portfolio, making the stock its largest position. Monimus Capital Management LP owned about 0.08% of Planet Fitness at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% in 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 in the last quarter. R Squared Ltd acquired a new position in Planet Fitness during the fourth quarter valued at $39,000. Skandinaviska Enskilda Banken AB publ lifted 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 worth $53,000 after acquiring an additional 490 shares in the last quarter. Beaumont Financial Advisors LLC acquired a new stake in Planet Fitness during the 4th quarter worth about $202,000. Finally, GAMMA Investing LLC grew its stake in Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after acquiring an additional 192 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PLNT shares. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Macquarie decreased their target price on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Piper Sandler increased their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Roth Mkm restated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.17.

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Planet Fitness Stock Up 2.0 %

PLNT stock traded up $1.94 during mid-day trading on Wednesday, reaching $100.66. 1,438,397 shares of the stock traded hands, compared to its average volume of 1,477,310. The firm has a market capitalization of $8.52 billion, a PE ratio of 54.12, a P/E/G ratio of 2.45 and a beta of 1.54. The business has a 50-day moving average of $101.01 and a two-hundred day moving average of $93.75. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating 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 prior year, the company earned $0.60 EPS. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Company 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.