Proficio Capital Partners LLC Takes $51,000 Position in Planet Fitness, Inc. (NYSE:PLNT)

Proficio Capital Partners LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 51,314 shares of the company's stock, valued at approximately $51,000. Proficio Capital Partners LLC owned approximately 0.06% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd bought a new position in Planet Fitness in the fourth quarter worth approximately $39,000. Beaumont Financial Advisors LLC bought a new position in Planet Fitness in the fourth quarter worth approximately $202,000. GAMMA Investing LLC grew its stake in Planet Fitness by 10.1% in 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 period. Finally, Greenleaf Trust bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $210,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PLNT. Macquarie reduced their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. 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 report on Wednesday, February 26th. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Finally, BMO Capital Markets increased 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. Five 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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Planet Fitness Price Performance

Shares of Planet Fitness stock traded up $1.18 on Wednesday, reaching $96.86. 207,693 shares of the company traded hands, compared to its average volume of 1,449,446. The company has a 50 day moving average of $100.06 and a 200 day moving average of $95.02. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00. The firm has a market capitalization of $8.20 billion, a PE ratio of 52.03, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS 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 business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Planet Fitness's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

About Planet Fitness

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.