Planet Fitness, Inc. (NYSE:PLNT) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 40.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,042 shares of the company's stock after buying an additional 62,351 shares during the period. First Trust Advisors LP owned 0.26% of Planet Fitness worth $21,459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLNT. Corient Private Wealth LLC raised its position in Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock valued at $457,000 after purchasing an additional 94 shares during the period. Cetera Trust Company N.A lifted its position in Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. lifted its position in 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 buying an additional 157 shares during the last quarter. Truist Financial Corp boosted its stake in Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company's stock worth $1,249,000 after buying an additional 161 shares during the period. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 192 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $95.77 on Friday. Planet Fitness, Inc. has a 1 year low of $58.51 and a 1 year high of $110.00. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 2.45 and a beta of 1.39. The stock's 50-day moving average is $95.85 and its two-hundred day moving average is $96.59.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the business posted $0.60 EPS. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price objective for the company. BMO Capital Markets lifted their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus reduced their price target on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $101.72.

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.

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