Natixis Advisors LLC Increases Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Natixis Advisors LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 37.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,438 shares of the company's stock after acquiring an additional 3,909 shares during the period. Natixis Advisors LLC's holdings in Planet Fitness were worth $1,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. State Street Corp raised its stake in shares of Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after acquiring an additional 37,236 shares during the period. Ninety One UK Ltd bought a new position in Planet Fitness during the 4th quarter valued at about $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 bought a new stake in Planet Fitness in the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP bought a new stake in Planet Fitness in the fourth quarter worth about $18,767,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLNT. DA Davidson reiterated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. 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 report on Friday, January 17th. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.17.

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Planet Fitness Trading Down 3.0 %

Shares of PLNT traded down $3.02 during midday trading on Friday, hitting $96.18. 957,066 shares of the company's stock traded hands, compared to its average volume of 1,458,929. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The firm's fifty day moving average is $100.46 and its 200-day moving average is $94.73.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million during 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 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. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current 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.