Quantbot Technologies LP Buys Shares of 52,425 Planet Fitness, Inc. (NYSE:PLNT)

Quantbot Technologies LP acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,425 shares of the company's stock, valued at approximately $5,183,000. Quantbot Technologies LP owned approximately 0.06% of Planet Fitness at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its position in shares of Planet Fitness by 2.1% during 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 in the last quarter. M&T Bank Corp grew its holdings in shares of Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company's stock valued at $402,000 after acquiring an additional 124 shares in the last quarter. Cetera Trust Company N.A increased its position in shares of Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after acquiring an additional 135 shares during the last quarter. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the period. Finally, Truist Financial Corp boosted its position in Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company's stock worth $1,249,000 after purchasing an additional 161 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLNT shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Piper Sandler raised their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. DA Davidson restated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus dropped their price objective 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. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.17.

Planet Fitness Trading Up 2.0 %

Shares of PLNT stock traded up $1.94 during trading hours on Wednesday, reaching $100.66. The stock had a trading volume of 1,438,397 shares, compared to its average volume of 1,477,310. The stock's fifty day simple moving average is $101.01 and its 200 day simple moving average is $93.75. The firm has a market capitalization of $8.52 billion, a PE ratio of 54.12, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00.

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 firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. As a group, 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.