Pinebridge Investments L.P. Boosts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Pinebridge Investments L.P. raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,927 shares of the company's stock after acquiring an additional 10,150 shares during the period. Pinebridge Investments L.P.'s holdings in Planet Fitness were worth $3,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC boosted its stake in shares of Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock valued at $2,352,000 after purchasing an additional 16,503 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Planet Fitness by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after purchasing an additional 192 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Planet Fitness during the fourth quarter valued at about $240,000. Nordea Investment Management AB boosted its stake in shares of Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock valued at $18,205,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Planet Fitness by 71.9% during the fourth quarter. Fulton Bank N.A. now owns 4,429 shares of the company's stock valued at $438,000 after purchasing an additional 1,853 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus cut their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Guggenheim lifted their price objective on Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. BMO Capital Markets lifted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Trading Up 0.4 %

Planet Fitness stock traded up $0.35 during trading on Monday, hitting $96.15. 1,047,868 shares of the company were exchanged, compared to its average volume of 1,415,974. The business's 50 day moving average is $95.77 and its 200 day moving average is $96.81. Planet Fitness, Inc. has a 52 week low of $58.51 and a 52 week high of $110.00. The company has a market capitalization of $8.14 billion, a P/E ratio of 51.69, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 business 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 posted $0.60 earnings per share. Planet Fitness's revenue was up 19.4% compared to the same quarter last year. Equities analysts expect 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.