Wealthfront Advisers LLC Purchases New Position in Planet Fitness, Inc. (NYSE:PLNT)

Wealthfront Advisers LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,834 shares of the company's stock, valued at approximately $3,741,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLNT. M&T Bank Corp lifted its holdings in Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company's stock worth $402,000 after purchasing an additional 124 shares during the last quarter. Cetera Trust Company N.A raised its position in shares of 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 purchasing an additional 135 shares during the period. UMB Bank n.a. lifted its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Planet Fitness by 1.3% during the 4th 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 grew its stake in Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after buying an additional 192 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Macquarie cut their price objective on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Roth Mkm reaffirmed 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. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Guggenheim reissued a "buy" rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.17.

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Planet Fitness Stock Down 0.2 %

NYSE PLNT opened at $93.31 on Friday. The stock has a market cap of $7.90 billion, a P/E ratio of 50.17, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $110.00. The company's 50-day simple moving average is $101.29 and its 200 day simple moving average is $93.24.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company's revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share 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.

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